Timir Mining Company owns 4 licenses for the development of iron ore deposits in Sakha Republic (Yakutia) in Russia.

Project will be executed in 4 stages.

Stage 1. Tayozhnoye deposit development

• Mining iron ore volumes - 3 mtpa
• CAPEX – $180m
• Launch date – 2017
• Key market - EVRAZ steel plant located in Siberia

Stage 2. Tayozhnoye deposit expansion

• Mining iron ore volumes - 6 mtpa
• CAPEX – $380m
• Launch date – 2021
• Key market – South-East Asia

Stage 3. DRI Plant

• Mining iron ore volumes - 6 mtpa
• DRI production volumes – 1.5 mtpa
• CAPEX – $900m
• Launch date – 2024
• Key market – South-East Asia

Stage 4. Other 3 deposits development

• Mining iron ore volumes - 10-30 mtpa
• CAPEX – $2-3bn CAPEX