 Within the framework of administrative divisions, Zheleznogorsk-Ilimsky serves as the administrative center of Nizhneilimsky District, to which it is directly subordinated.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.