 As a municipal division, the town of Zheleznogorsk-Ilimsky is incorporated within Nizhneilimsky Municipal District as Zheleznogorskoye Urban Settlement.The town's economy is mainly reliant on the open pit iron ore mine and ore processing works, owned by the company Mechel Inc.The town has a station called "Korshunikha-Angarskaya" on the Baikal–Amur Mainline, it is also on the road from Bratsk to Ust-Kut.