FeOre (ASX: FEO) 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 estimated that the total investment for the Ereeny Project would be about US$107 million (A$102 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 noted 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.

There have also been ongoing discussions on project debt financing concerning regulations on the ability for project financiers to create security over assets.