Canadian mining company Black Iron Inc, which is implementing the Shymanivske iron ore project, has supported the signing of an agreement between Ukraine and the USA for the joint development of mineral resources, hoping that this document will facilitate the realization of its new mining project.
This is reported by Finway
Project Prospects
It is noted that the successful implementation of the project will create a “roadmap” for investment development under this agreement. The lack of companies with experience in initiating large-scale mining operations in Ukraine will open new opportunities for Black Iron to participate in post-war reconstruction.
Black Iron reports that the project has already made significant progress in engineering and obtaining the necessary permits. It is strategically located in central Ukraine (Kryvyi Rih) and has financial backing from the global mining company Anglo American.
Impact on the Economy
The Shymanivske iron ore project is expected to attract $1.2 billion in investments during its implementation and contribute $2.2 billion to the Ukrainian economy. This includes the creation of thousands of jobs, the introduction of new innovative technologies, the revival of industrial infrastructure, and demonstrating to the world that Ukraine is open for business.