Olenegorsk mining and processing plant, a part of Russian-based steelmaker Severstal mining division, has received a license to explore and mine iron ore from the eastern district of the South Kahozersk iron ore deposits in the Murmansk region of NW Russia. The explored reserves of the eastern district of the South Kahozersk open pit deposit are estimated at 24 million tonnes of magnetite iron ore with 25.83% iron content. The Kurkenpahk deposit is located close to four of Olcon existing open cast mines. The reserves in the northern district that are due to be mined are estimated at 14 million tonnes.