- WORLD EDITIONAustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Black Iron
Putting the Shymanivske Iron Ore Project into Production
Rio Tinto Still Planning to Move Forward at Simandou
Rio Tinto Sees Worst Underlying Earnings in 11 Years
Overview
Black Iron Inc. (TSX:BKI,OTC:BKIRF,FWB:BIN) is developing an iron ore mine in Ukraine ranked by market intelligence group CRU as having the lowest projected operating costs and second-lowest capital intensity of all iron ore pellet feed development projects in their database. The company has access to a highly-skilled labor force and excellent infrastructure which could help reduce the overall capital costs of the project. Black Iron has signed a memorandum of understanding with Glencore (LSE:GLEN) to engage in formal negotiations to finance the construction of the Shymanivske iron ore project in exchange for potentially securing the offtake of up to four million tonnes.
Black Iron’s 100 percent owned Shymanivske iron ore project is located in Kryviy Rih, Ukraine, 330 kilometers southeast of Kiev and 450 kilometers west from the conflict in the Donbass. Black Iron is confident that the conflict won’t pose a threat to the project as the front line has not moved in over five years and there are no benefits for Russia to push deeper into the country since it has secured the naval base on the island of Crimea. Ukraine is the seventh-largest producer of iron ore globally and is strategically located between markets of Europe, Russia, Asia and the Middle East.
Black Iron’s Company Highlights
- Ukraine has demonstrated its desire to move closer to European integration and is combating corruption within the country.
- The World Bank ranks Ukraine 64 out of 190 countries in its 2020 “Ease of Doing Business Index”, which is an improvement over its 156-place ranking 10 years ago.
- The country is a mining-friendly jurisdiction with strong local and national support.
- In 2014, Black Iron brought the project to the brink of starting construction having secured US$511 million from the world’s ninth-largest iron ore mining company, Metinvest. Metinvest divested their ownership back to Black Iron in 2016 when they fell under temporary financial distress.
- Black Iron’s Shymanivske iron ore project is located close to steel mills located in Europe, Turkey, Russia, Asia and the Middle East.
- The project is also located in an established mining region surrounded by seven operating iron ore mines owned by ArcelorMittal, Metinvest and Evraz.
Interactive Chart
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.