Severstal approved an updated development program for the Olenegorsk Mining and Processing Division up to and including 2040. Total investments from 2025 to 2040 will exceed ₽90 billion. By 2027, iron ore concentrate production at the mine is planned to double to approximately 4 million tons. Absolute values of the indicator in subsequent periods are not disclosed in the company, but they note that up to 2040 the production volume will not decrease.