OREANDA-NEWS.   OAO Severstal, one of the world’s leading integrated steel and mining companies, is pleased to announce that a Class “A” Mining License for the mining of iron ore in the Putu Mountain Range has been granted to Putu Iron Ore Mining Company Incorporated (PIOM, 100% subsidiary of OAO Severstal) by the Government of Liberia (through the Ministry of Lands, Mines and Energy).

The issuance of the Class “A” Mining License follows the approval of a Feasibility Study (FS) submitted to the Government on March 31st, in keeping with the Mineral Development Agreement (MDA), signed with the Liberian Government on November 2, 2010, and in accordance with previously announced plans of the company.

“The issuance of the Class “A” Mining License to the company by the Ministry of Lands, Mines and Energy therefore indicates that the company’s Feasibility Study responded to the requirements outlined in the MDA. We believe that it will further improve investment perspective of the project”, commented Projects Department Director of Severstal Dmitry Sakhno.