Canadian Black Iron starts obtaining iron ore mining licenses in Kryvy Rih

Canadian mining company Black Iron Inc. with assets in Ukraine has begun an active process of obtaining permits for iron ore mining as part of the implementation of the new Shymanivske iron ore project in Kryvy Rih.

According to materials available to Interfax-Ukraine, a subsidiary, Shymanivske Steel LLC, has applied for a licanse for open-pit iron ore mining in the northern part of the Shymanivske deposit quarry.

It is planned that the total volume of overburden ore will be 5.13 million cubic meters, including 1.31 million cubic meters of ore, and the quarry will be 660 m by 390 m and 80 m deep. It is also expected that 4.5 million tonnes of ore will be produced per year during year-round operation.

As reported, Black Iron Inc. continues to advance the Shymanivske iron ore project, having identified a priority area in the form of concluding an investment agreement with the government of the country. The main issue remains the acquisition of a land plot under the jurisdiction of the Ministry of Defense. Discussions with the department led to an agreement on a preliminary amount of funds that Black Iron will have to pay as compensation for receiving this land plot for its use.

The company also announced that it was considering new potential projects.