Russia’s Severstal said that the company 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 by Liberia’s 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 in November 2010.

Putu is estimated to have ore deposits of 4.4 billion.