Bermuda-based iron ore producer FeOre Limited has announced the approval of the feasibility study for its Ereeny iron deposit in the Mandalgovi Province of Mongolia by the Minerals Authority of Mongolia. The company plans to start construction of infrastructure and other facilities at the project and it aims to have the Ereeny project in operation by the end of 2013.
FeOre's 108.7 million mt Ereeny iron ore project is located 60 kilometers from the major trans-Mongolian railway line between Russia and China. It hosts an indicated JORC resource of 57.3 million mt and an inferred JORC resource of 51.4 million mt.