en.Wedoany.com Reported - Russia's Federal Agency for Subsoil Use (Rosnedra) announced in early July 2026 that the one-time starting price for the Kapayevskoye iron ore deposit, located in the Ust-Ilimsk District of Irkutsk Oblast, has been set at 5.102 billion rubles. The auction for this plot is scheduled for August 27, 2026, with the bid submission deadline on August 13. The winning bidder will receive a 20-year license for mineral exploration and extraction.
The Kapayevskoye deposit is situated in the Ust-Ilimsk District of Irkutsk Oblast, in the middle reaches of the Kapayeva River, a left tributary of the Kata River. The mining area is located 75 kilometers northeast of the city of Ust-Ilimsk in a straight line, connected by roads and tractor trails. The Ust-Ilimsk hydroelectric power station can ensure the region's electricity supply. The deposit covers an area of 15.66 square kilometers, with iron ore resources classified according to Russian reserve standards as follows: Category B at 36.672 million tons, Category C1 at 465.705 million tons, Category C2 at 101.776 million tons, off-balance C1 at 18.401 million tons, and off-balance C2 at 32.53 million tons. The proposed licensed reserves require reassessment.
Russia's Federal Agency for Subsoil Use (Rosnedra) is a federal executive body under the Ministry of Natural Resources and Ecology of the Russian Federation, responsible for management and licensing in the field of mineral resources. Ust-Ilimsk is a key industrial city in Irkutsk Oblast, located along the Angara River, and serves as an important center for timber processing and the electric power industry in Eastern Siberia. The Ust-Ilimsk hydroelectric power station is one of the cascade hydroelectric plants on the Angara River, providing ample electricity for the region's industrial and mining development.
The auction of the Kapayevskoye iron ore deposit is a significant event in the development of mineral resources in Eastern Siberia. With its substantial iron ore reserves, the development of this deposit will help meet the demand for iron ore raw materials in Russia's domestic steel industry. The auction has attracted attention from multiple Russian and international mining companies. The starting price of 5.102 billion rubles reflects the Russian government's assessment of the mineral resource's value. As the bid submission deadline approaches, the preparations of competing companies are accelerating. The development of this deposit will bring new job opportunities and economic growth to the Ust-Ilimsk region.
