KIEV, Sept. 23 – Canada's Black Iron claims it faces complications in the implementation of a project to produce and enrich iron ore in Ukraine due to a decline in prices on global markets and an increase in local production royalties.

The company's iron ore project suggests investing over $1 billion, Deputy CFO of Dnipropetrovsk Zelenovske Steel LLC Mykola Levchenko said at a roundtable meeting entitled "New Tax Reform – Chance for the Economic Development of Ukraine's Mining and Metallurgical Complex in Kiev on Wednesday.