The Lomonosovskoye Iron Ore Project (LOMO) in Kazakhstan’s Kostanay Region is advancing from a decade of methodical exploration into full development, positioning itself as one of the world’s most significant sources of high-grade, low-impurity iron ore concentrate. Situated roughly 15 kilometers northwest of Rudniy and 725 kilometers from Astana, the deposit sits within a mature mining district that provides skilled labor, established suppliers, and dependable infrastructure. LOMO comprises two major mineralized zones—the North-Western and Central deposits—dominated by extensive magnetite formations with remarkable continuity. Originally identified in the Soviet era, the project has since been modernized through international standards, rigorous validation, and careful permitting. With JORC and KAZRC certifications in place, completed Bankable Feasibility Studies, and all major authorizations secured, construction has begun and the project is entering a decisive phase.

A resource base exceeding 500 million tonnes in the measured and indicated categories with average grades of 30–36% Fe underpins the project’s scale and longevity. Metallurgical programs led by Corem Laboratories in Canada confirm that LOMO ore can be upgraded efficiently to a 67% Fe concentrate with very low deleterious components, placing it in the premium Direct Reduction category increasingly favored by steelmakers seeking lower-carbon pathways. This quality profile—high iron, low silica and alumina—supports both blast furnace and DRI applications, enabling customers to optimize productivity while reducing energy intensity and emissions. Independent market analysis indicates tightening availability of DR-grade feedstock through the next decade, and LOMO’s combination of scale, quality, and reliability is designed to address that gap with a product that commands pricing resilience across cycles.

Technical de-risking at LOMO spans the full feasibility spectrum. Wardell Armstrong International completed early study work, WSP delivered the Bankable Feasibility Study, and Wood Mackenzie assessed market fundamentals and pricing frameworks. Infrastructure and logistics design were advanced by GBM Minerals Engineering, while Logicamms and Mincore contributed to beneficiation plant engineering. The master mine plan prepared by Antal establishes a clear route from construction to ramp-up, aligning mine sequencing, processing capacity, and product specifications with customer requirements. Environmental approvals and major permits, including the Environmental Work Permit in April 2024 and dual JORC–KAZRC certification in August 2024, provide regulatory certainty. Early works commenced in 2025, with first concentrate production targeted for 2027, supported by disciplined execution and staged procurement of long-lead items.

LOMO’s location offers uncommon logistical flexibility. Rail lies within 12 kilometers, paved roads within 4 kilometers, power capacity of approximately 50 megawatts within 5 kilometers, and natural gas and water sources nearby. The national rail network connects directly to European markets and to Western China’s Xinjiang Province, enabling diversified sales strategies and reduced exposure to single-route risks. Proximity to major industrial centers—Magnitogorsk, Chelyabinsk, Temirtau, and onward to customers in Xinjiang—supports shorter lead times and attractive delivered costs. As several Xinjiang mines are expected to wind down by 2030, regional supply of high-grade feed is forecast to tighten, increasing the strategic relevance of LOMO’s premium 67% Fe concentrate. In a market increasingly oriented toward green steel mandates, LOMO’s specification table—high iron, low silica and alumina, tightly controlled phosphorus and sulfur—aligns with the feedstock needs of modern, lower-emission steelmaking flowsheets, anchoring the project’s role in the global transition.