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Ukrainian government relocates Black Iron's processing plant and tailings facility

Mining News - Published on Wed, 20 Mar 2019

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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. 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 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 USD 436 million estimated for capital costs in the preliminary economic assessment for the project.

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Posted By : Rabi Wangkhem on Wed, 20 Mar 2019
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