Russia’s Alrosa May Invite Evraz to Develop Deposit

Sep. 26, 2011 02:12PM PST

Reuters reported Alrosa (RTC:ALNU) may invite steel maker Evraz (LON:EVR) to participate in the development of its $10 billion Timir iron ore project.

The market news is quoted as saying,

Alrosa bought the rights to develop four deposits of iron ore in the south of Yakutiya region in Eastern Siberia for $173 million in 2008 and united them into the Timir project.

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