Kryvyi Rih is a Ukrainian iron ore mine owned by ArcelorMittal. It produces 10Mtpa of iron ore concentrate, of which 80% is trucked to it's own steel plant nearby. The remaining ore is railed to other ArcelorMittal affiliates in Eastern Europe as well as to third parties. Kryvyi Rih has benefited greatly from the devaluation of its local currency and continues to seek efficiency improvements in order to keep costs low. As such, we expect costs to remain low at Kryvyi Rih, particularly given that only a small proportion of its concentrate is dependent on national rail freight routes where high tariff increases have been implemented.