The KSG Iron Ore Mining Project is implemented over three stages with a total investment of approximately USD 2 Billion. On March 23th 2010, Mr. Xi Jinping as vice-presidentm Ms. Liu Yandong as State Counselor of China and Mr. Zhukov as Deputy Prime Minister of Russia witnessed the signing of the EPC Contract Cooperation Agreement of the project by CNEEC.

Stage 1：Development of Kimkan Iron Ore Mine for ore beneficiation plant with annual iron ore production of 10,000,000 tons and iron ore concentrate with average grade of no less than 65% Fe.

Stage 2：Development of Garinskoye Iron Ore Mine and expansion of ore beneficiation plant and infrastructure of Kimkan Mine, which will extent to the production of iron ore concentrate with average grade of no less than 65% to 8,300,000 tons.

Stage 3：Development of Sutara Iron Ore Mine for a metallurgical DRI plant with annual sponge iron production of 2,500,000 tons.