KIEV, Jan. 16 - Ukraine will most likely sell its major iron ore deposit later this year via a competitive tender, First Deputy Prime Minister Oleksandr Turchynov said Wednesday.

The deposit, known as Kryviy Rih Oxidized Ore Mining Plant (KROOMP), is pursued by Arcelor Mittal, the world’s largest steelmaker, but also by eyed by a rival Russian-Ukrainian steel consortium.

“We discussed this issue,” Turchynov told reporters after a meeting at the government Wednesday. “I believe that its privatization this year is realistic.”