According to local media reports, Chinese companies are showing interest in developing iron ore projects in Russia's South Yakutia region.

On January 22nd 2010, a Chinese delegation of industry specialists held talks behind closed doors with the managers of Russian mining and metallurgical company Timir, which is in charge of issues relating to the development of a geological project for iron ore deposits in South Yakutia.

The subject of the talks was the possible cooperation of the parties in iron ore mining in South Yakutia and the development of the local metallurgical industry. The Chinese officials have made clear that under certain conditions they are ready to consider investments in the development of iron ore production in South Yakutia.