This strategic step in this remote and sparsely populated corner of the region offers an important opportunity to exploit large iron ore reserves.
The large iron ore deposits discovered south of the village of Udskoye in Soviet times, with reserves of around 5 billion tonnes, are now becoming economically viable thanks to modern transport infrastructure. These deposits, located in Milkanskaya, Ulkanskaya, Galamskaya, Itmatinskaya and Irskaya districts, have great potential with the laying of a railway line and the construction of a modern port.
The closeness of the iron ore deposits in the region to the Elga coking coal deposit provides all the prerequisites for the construction of a steelmaking plant and a coke-chemical plant. This could accelerate economic development by increasing the industrial capacity of the region.
Large investors are actively working in the region with projects such as the Kutynsky Mining and Processing Plant (Kutynsky GOK) not far from the settlement of Tugur. Also under construction is the Pacific railway and the Elga port at Cape Manorsky for the transshipment of coal from the Yakut deposits. A geological company has received a licence to explore for iron ores until autumn 2029.
The TOR (Territory of Advanced Socio-Economic Development) status is a special economic zone in Russia, created to stimulate economic growth and attract investment to specific regions. The transition of Tuguro-Chumikansky District to this status will increase the economic potential of the region, allowing the efficient use of valuable resources such as iron ore.
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