Black Iron Congratulates the U.S. and Ukraine on Their Minerals Deal and Aims to Help Pave the Way With Its Highly Advanced Ukraine New Mining Project
Black Iron (BKIRF) welcomes the landmark agreement between the U.S. and Ukraine to develop Ukraine's mineral resources, positioning its Shymanivske Iron Ore Project as a pioneer in post-war reconstruction. The project, which was near construction before the 2022 conflict, has secured financial backing from Anglo American through a royalty investment and offtake agreement.
Located in Kryvyi Rih, central Ukraine, the project is expected to inject $1.2 billion in development capital and contribute $2.2 billion to Ukraine's economy. As one of the most advanced mining developments in the country since the Soviet era, it aims to create thousands of jobs and establish a development roadmap for future investments under the U.S.-Ukraine Minerals Agreement.
Black Iron (BKIRF) accoglie con favore l'accordo storico tra Stati Uniti e Ucraina per lo sviluppo delle risorse minerarie ucraine, posizionando il suo Progetto di Minerale di Ferro Shymanivske come pioniere nella ricostruzione post-bellica. Il progetto, che era vicino alla fase di costruzione prima del conflitto del 2022, ha ottenuto il sostegno finanziario di Anglo American tramite un accordo di investimento in royalties e di off-take.
Situato a Kryvyi Rih, nel centro dell'Ucraina, il progetto prevede un investimento di 1,2 miliardi di dollari in capitale di sviluppo e un contributo di 2,2 miliardi di dollari all'economia ucraina. Essendo uno dei progetti minerari più avanzati del paese dagli anni dell'era sovietica, mira a creare migliaia di posti di lavoro e a definire una tabella di marcia per futuri investimenti nell'ambito dell'Accordo Minerario USA-Ucraina.
Black Iron (BKIRF) celebra el acuerdo histórico entre Estados Unidos y Ucrania para desarrollar los recursos minerales de Ucrania, posicionando su Proyecto de Mineral de Hierro Shymanivske como un pionero en la reconstrucción posguerra. El proyecto, que estaba cerca de iniciar la construcción antes del conflicto de 2022, ha asegurado respaldo financiero de Anglo American mediante un acuerdo de inversión en regalías y de compra.
Ubicado en Kryvyi Rih, en el centro de Ucrania, se espera que el proyecto inyecte 1.200 millones de dólares en capital de desarrollo y aporte 2.200 millones de dólares a la economía ucraniana. Como uno de los desarrollos mineros más avanzados en el país desde la era soviética, busca crear miles de empleos y establecer una hoja de ruta para futuras inversiones bajo el Acuerdo de Minerales entre EE.UU. y Ucrania.
Black Iron (BKIRF)는 미국과 우크라이나 간의 우크라이나 광물 자원 개발을 위한 역사적인 합의를 환영하며, 자사의 Shymanivske 철광석 프로젝트를 전쟁 후 재건의 선구자로 자리매김하고 있습니다. 2022년 분쟁 이전 건설 단계에 가까웠던 이 프로젝트는 Anglo American의 로열티 투자 및 오프테이크 계약을 통해 재정 지원을 확보했습니다.
우크라이나 중부 크리비리흐에 위치한 이 프로젝트는 12억 달러의 개발 자본을 투입하고 우크라이나 경제에 22억 달러를 기여할 것으로 예상됩니다. 소련 시대 이후 우크라이나에서 가장 진보된 광산 개발 중 하나로, 수천 개의 일자리를 창출하고 미국-우크라이나 광물 협정 하에 향후 투자를 위한 개발 로드맵을 수립하는 것을 목표로 하고 있습니다.
Black Iron (BKIRF) salue l'accord historique entre les États-Unis et l'Ukraine visant à développer les ressources minérales de l'Ukraine, positionnant son Projet de minerai de fer Shymanivske comme un pionnier de la reconstruction post-conflit. Le projet, qui était proche de la phase de construction avant le conflit de 2022, a obtenu un soutien financier de Anglo American via un accord d'investissement en redevances et d'achat.
Situé à Kryvyi Rih, au centre de l'Ukraine, ce projet devrait injecter 1,2 milliard de dollars de capitaux de développement et contribuer à hauteur de 2,2 milliards de dollars à l'économie ukrainienne. En tant que l'un des développements miniers les plus avancés du pays depuis l'époque soviétique, il vise à créer des milliers d'emplois et à établir une feuille de route pour les investissements futurs dans le cadre de l'Accord sur les minéraux entre les États-Unis et l'Ukraine.
Black Iron (BKIRF) begrüßt die wegweisende Vereinbarung zwischen den USA und der Ukraine zur Entwicklung der mineralischen Ressourcen der Ukraine und positioniert sein Shymanivske Eisenerzprojekt als Vorreiter im Wiederaufbau nach dem Krieg. Das Projekt, das vor dem Konflikt 2022 kurz vor Baubeginn stand, hat durch eine Lizenzgebühren-Investition und Abnahmevereinbarung finanzielle Unterstützung von Anglo American erhalten.
Das Projekt befindet sich in Kryvyi Rih, Zentralukraine, und soll 1,2 Milliarden US-Dollar an Entwicklungskapital investieren und 2,2 Milliarden US-Dollar zur ukrainischen Wirtschaft beitragen. Als eine der fortschrittlichsten Bergbauentwicklungen des Landes seit der Sowjetzeit zielt es darauf ab, tausende Arbeitsplätze zu schaffen und einen Entwicklungsfahrplan für zukünftige Investitionen im Rahmen des US-Ukraine-Mineralabkommens zu etablieren.
- Project secured financial backing from global miner Anglo American through royalty investment and offtake agreement
- Expected to inject $1.2 billion in development capital and contribute $2.2 billion to Ukrainian economy
- Strategic location in central Ukraine surrounded by seven operating iron ore mines
- Project is well advanced in engineering and permitting
- Will create thousands of jobs and introduce new innovative technologies
- Project construction was halted due to 2022 conflict
- Operating in a post-war reconstruction environment poses potential risks
- No new large-scale mine has been constructed in Ukraine since Soviet era, indicating potential operational challenges
U.S. and Ukraine entered into a landmark agreement to jointly develop Ukraine's vast mineral resources.
Black Iron (TSX:BKI) is developing the most advanced project to construction in Ukraine.
Black Iron's successful construction and operation will create a development roadmap for investments under the U.S. - Ukraine Minerals Agreement.
TORONTO, ON / ACCESS Newswire / May 5, 2025 / Black Iron Inc. ("Black Iron" or the "Company") (TSX:BKI)(OTCPK:BKIRF)(FWB:BIN) congratulates Ukraine and the United States governments on signing a landmark agreement to jointly develop Ukraine's vast mineral resources - a strategic move designed to accelerate post-war reconstruction and reduce global dependency on hostile-state supply chains. With potentially trillions of dollars worth of untapped mineral resources and growing Western support, Ukraine is positioning itself as a future powerhouse in the critical minerals sector. The challenge is that there hasn't been a new large-scale mine constructed in Ukraine since the Soviet era.
Black Iron's high purity Shymanivske Iron Ore Project (the "Project") is one of the most advanced mining developments in Ukraine and was on the brink of starting construction prior to the outbreak of conflict in 2022. As one of the most advanced large scale mining projects in Ukraine, the Project will pave the way by developing a roadmap under which future investments under the U.S. - Ukraine Minerals Agreement can follow. With a dearth of companies and operators experienced in starting a Ukrainian mining operation of this scale, Black Iron is well-positioned to participate in the post-war reconstruction of Ukraine. The Project is already well advanced in its engineering and permitting, plus it is strategically located in central Ukraine (Kryvyi Rih) and surrounded by seven operating iron ore mines with institutional financial support. The Project itself has the financial support of global miner Anglo American, as evidenced by the royalty investment and offtake agreement entered into between the Company and Anglo American (see Company press release of November 7, 2024).
Black Iron's CEO, Matt Simpson, commented, "This isn't just about building a mine - it's about rebuilding a country. The Shymanivske Iron Ore Project is expected to inject US
About Black Iron
Black Iron is an iron ore exploration and development company, advancing its
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Matt Simpson Chief Executive Officer Black Iron Inc. |
Forward-Looking Information
This press release contains forward-looking information. Forward-looking information is based on what management believes to be reasonable assumptions, opinions and estimates of the date such statements are made based on information available to them at that time. Forward-looking information may include, but is not limited to, statements with respect to the U.S. and Ukrainian minerals agreement; the development of the minerals sector in Ukraine; the war in Ukraine and associated reconstruction projects; development of the Project; the royalty investment and offtake agreement with Anglo American and the economic benefits of the Project. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the war in Ukraine; general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; other risks of the mining industry and the risks described in the annual information form of the Company. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. The Company notes that mineral resources are not mineral reserves and do not have demonstrated economic viability.
SOURCE: Black Iron, Inc.
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