Multibillion-crown Russian/Czech mining project suspended

A multibillion-crown Russian/Czech project for the construction of iron ore mine facilities in western Russia has been suspended due to the economic crisis. Czech companies, namely the Brno metallurgical engineering company ALTA, were to have a 40 to 50% stake in the project, worth 76 billion crowns (three billion EUR). The project envisioned the construction of facilities for iron ore mining and processing.