Black Iron (Canada) intends to prepare a new feasibility study of the project to create the iron ore concentrate manufacture at the Shimanovskoye deposits in Dniepropetrovsk region.

The company has attracted BBA Inc. to prepare the study. The document is expected to be complete at the end of the year.

“The current exchange rate has considerably decreased the forecast capital expenses, as the most part of payment for construction, including employees, concrete, steel and machinery, will be in hryvnia”, the company said.

The lower exchange rate will also decrease operational expenses, Black Iron believes.

The previous estimate of 2014 was based on the forecast of 9.9 million tons of Fe68 concentrate output a year. The price was believed to be $95 per ton at 8 UAH per $1. At present Fe62 is traded at $64 per ton, while the exchange rate is 27 UAH per $1. (Ukrainian metal)

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