[8] Zheleznogorsk was founded in 1957 due to the development of iron ore deposits in the Kursk Magnetic Anomaly.

[citation needed] It was granted town status in 1962.

There are located 18 big industrial factories, the biggest among them is Mikhailovsky Mining and Refining Facility.

In 2015 it produced 18% of total mining production in Russia.

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