Black Iron Inc. (Canada) has finished the new feasibility study for the construction of the Shimanovsky Mining and Processing Works in Kriviy Rih valued at $748 million.
According to the document, the construction of the mine and the works will be carried out in 2 stages.
The capacity of the first stage will be 4 million tons of high-quality concentrate with the iron content of 68%. It will cost $436 million.
The second stage valued at $312 million presupposes the increase of capacity to 8 million tons in three years after the commissioning of the works and in 5 years after the start of the first stage realization. (Ukrainian metal)