- Write by:
-
Saturday, March 16, 2019 - 11:42:16 AM
-
871 Visit
-
Print
Mining News Pro - Black Iron announced this week that Ukraine`s Ministry of Defence has developed a plan to transfer to another area the parcel of land originally sought by the company as the location of a processing plant, tailings and waste rock for its Shymanivske iron ore project.
According to Mining News Pro - The Toronto-based company said the parcel of land proposed by state officials in September 2018 was deemed unsuitable from a social and environmental standpoint, whereas the newly proposed parcel of land is considered to be ideal.
"The estimated cost for relocating these facilities is already included in the PEA."
This proposed tenement, surrounded by operating iron ore mines owned by ArcelorMittal and Metinvest, is owned by Ukraine`s central government and is currently being used by the ministry itself for training purposes.
Black Iron said that it is only seeking a portion of the land held, which is located adjacent to its Shymanivske ore body.
The Canadian firm also said that to secure the rights to this land, management needs to finalize discussions with the Ministry regarding a compensation package the company expects will entail the construction of new barracks and replacement of facilities that will need to be relocated.
According to Black Iron, the estimated cost for relocating these facilities is already included in the $436 million estimated for capital costs in the preliminary economic assessment for the project.
The Shymanivske iron ore deposit is located 330 kilometres southeast from Kiev in central Ukraine, in the heart of the KrivBass iron ore mining district.
The 646Mt measured and indicated resource @ 31.6% iron and the additional 188Mt inferred resource @ 30.1% iron, which will be concentrated to ~68% iron, is defined by approximately 37,000 meters of historical drilling.
Black Iron said initially, the project is supposed to produce 4Mtpa of ultra high-grade, low impurity, 68% Fe concentrate with expansion to 8Mtpa starting in the third year of production, and operational by year five.
Short Link:
https://www.miningnews.ir/En/News/347129
Iron ore futures prices ticked lower on Monday, weighed down by diminishing hopes of more stimulus in top consumer ...
Iron ore futures prices drifted higher on Thursday as the latest soft data from top consumer China triggered renewed ...
Vitol Group confirmed that it’s starting to rebuild a trading book for metals after a long stint out of the market, with ...
Australia’s Fortescue said on Monday it would form a joint venture with OCP Group to supply green hydrogen, ammonia and ...
Iron ore’s reset to around $100 a ton is indicative of a broader reshaping of China’s commodities markets that favors ...
Iron ore reversed direction after dropping to its lowest level in 10 months as optimism that the country’s economic ...
Iron ore reversed direction after dropping to its lowest level in 10 months as optimism that the country’s economic ...
Nippon Steel intends to pursue its proposed acquisition of US Steel and wants its “deep roots” in the United States to ...
Nigeria will only grant new mining licences to companies that present a plan on how minerals would be processed locally, ...
No comments have been posted yet ...