The Russian and Chinese authorities have reached an agreement on a proposal for the construction of the first railway bridge between the two countries, creating a potential route for shipments to China of iron ore produced by Aricom, the Anglo-Russian developer of mineral resources.
According to a company statement, the bridge across the Amur River will allow Aricom to save approximately $4 per metric ton of iron ore in transport costs to China.
Aricom is considering whether to tender for the contract to construct the bridge.
Recently Aricom announced the completion of the feasibility study for its Garinskoye Flanks and Kostenginskoye iron ore deposits, according to which optimum operation will beneficiate about 20 million mt per year of ore from the deposits in question to produce fines and direct reduced iron. Aricom is currently in discussions with banks, contractors and other potential partners in order to finance the Garinskoye Flanks and Kostenginskoye projects.