Black Iron Celebrates the Mining Agreement Between the United States and Ukraine.

Black Iron Inc. has expressed its congratulations to the governments of Ukraine and the United States for signing a historic agreement aimed at developing the abundant mineral resources of the European country. This pact seeks to accelerate the reconstruction of Ukraine following the war and reduce global dependence on supply chains controlled by hostile nations. The country has mineral potential valued in the trillions of dollars, and while no large-scale mines have been built since the Soviet era, it is on track to become a mining powerhouse.

Black Iron’s Shymanivske iron ore project is considered one of the most advanced mining developments in Ukraine. Construction was scheduled to begin just before the conflict in 2022. This project, recognized as one of the most promising, could attract future investments under the new minerals agreement between Ukraine and the United States. Black Iron is in a unique position, being one of the few companies with the necessary expertise to undertake such large-scale mining in the country.

Headquartered in Kryvyi Rih and surrounded by several operational mines, the project already has the necessary permits and significant financial backing, including support from the mining giant Anglo American. Black Iron’s CEO, Matt Simpson, emphasized that “this is not just about building a mine, but about rebuilding a country.” The project is estimated to inject nearly $1.2 billion in capital over its lifetime, generating up to $2.2 billion for the economy and creating thousands of jobs. Additionally, plans are in place to incorporate innovative technologies and revitalize the industrial infrastructure, clearly indicating that Ukraine is open to future business opportunities.

Black Iron is positioning itself as an exploration and development company focused on its Shymanivske iron ore project, which is anticipated to play a crucial role in revitalizing Ukraine’s mining sector and its path to economic recovery.