FeOre is currently reviewing an updated Chinese technical study completed by Baogang Group Design & Research Institute, a subsidiary of China’s Baotou Iron and Steel Group, for the company’s Ereeny Iron Ore Project in Mongolia.
The translation and review of the study is slated for completion by the end of January 2013.
The study said that the total investment for the Ereeny Project would be about USD 107 million and that first production is expected to occur in mid 2014.
The initial production capacity is expected to be around 1 million tonnes of iron ore concentrate.
FeOre said that there had been changes in regulatory requirements for the commencement of mine construction, in areas such as explosive storage and environmental assessments, and that the updated study had considered the latest regulatory regime.