Black Iron Inc announced that the Company has retained WorleyParsons Services Canada Ltd to complete the Feasibility Study for its Shymanivske Iron Ore Project located in Kryviy Rih, Ukraine. WorleyParsons has extensive experience in the development of major resources projects, spanning all facets of project management and engineering and has a proven track record relating to the delivery of major pit to port iron ore projects.
WorleyParsons has also worked with a large number of major international mining companies including some of the leading iron ore operators, providing mining industry consultancy, project management, engineering and construction support service.
Mr Matt Simpson President and CEO of Black Iron said "This is an important milestone for Black Iron as we move into the final stage of project evaluation and preparation before we formally commence construction at Shymanivske."
He said "WorleyParsons comprehensive capacity and broad experience in all aspects of project development from engineering to, procurement, logistics, contracts administration, safety, risk and construction management will be invaluable to successfully developing the Project. Further, the company has substantial experience working in the CIS having undertaken development work in the past."
Scope of the Feasibility Study
The Feasibility Study will build on the Preliminary Economic Assessment published December 14 2011 which demonstrated the attractive technical and economic viability of the Project. The main purpose of the FS is to further refine the preferred mine to port flow sheet with an accuracy on both operating and capital costs estimates of +/- 15% in support of raising the capital required to bring Shymanivske into commercial operation. It is scheduled for completion in the fourth quarter of 2012.
WorleyParsons will be responsible for the execution of the FS and a National Instrument 43-101 Technical Report for the implementation of the project including the development of the open pit mining operation, the ore processing facilities, rail plus port tie-ins and all supporting site infrastructure to produce roughly 7.5MTpa of final product initially.
