Canadian explorer and developer Black Iron will develop a new preliminary economic assessment (PEA) for its Shymanivske iron-ore project, in Ukraine, to take into account the favourable exchange rate and a phased development plan.
Instead of a 9.9-million-ton-a-year operation, as considered in the 2014 feasibility study, the PEA will be based on a scaled down, yet expandable design, starting with a four-million-ton-a-year operation.
