Black Iron Updates BFS for Shymanivske Project, Ukraine

Black Iron (TSX:BKI) has updated its current Bankable Feasibility Study incorporating pilot plant test work, completed on its Shymanivske Iron Ore Project located in Krivoy Rog, Ukraine. The updated BFS outlines an operation producing 9.9 million tonnes per year of high-grade 68% iron ore concentrate, projecting a 48% internal rate of return (“IRR”), two year payback and aUS$3.3 billion net present value (“NPV”) at an 8% discount rate.

As quoted in the press release:

Matt Simpson, Black Iron’s President and CEO, commented, “The operation outlined by this BFS for the Shymanivske Project continues to clearly illustrate the potential for a high-value, low net cost iron ore development project. The optimized process design and layout developed for this new study, based on significant pilot scale test work, results in increased annual iron ore concentrate production of approximately 8%, while holding initial capital costs virtually unchanged. As a result of these improvements, the Project’s access to significant existing infrastructure (railway, power lines and port), and the availability of competitively-priced skilled labour, the BFS continues to show extremely attractive and robust economics.”

Read the full press release by Black Iron (TSX:BKI)