Black Iron Ore

Since late 2016, there are strong indications that the iron ore market is evolving and favouring higher iron grade products (i.e. >62% Fe), such as BKI’s ultra-high grade of 68% Fe product, at the detriment of lower grades. This is mainly driven by Chinese steel mills seeking to become more efficient and reduce their environmental footprint. There is a prevailing sentiment that this trend will not subside and higher grade iron ore will continue to attract greater premiums.

The PEA is preliminary in nature, and it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the PEA will be realized. Mineral resources are not mineral reserves and do not have demonstrated economic viability.

Black Iron is a Canada-based iron ore company advancing its 100% owned, high-grade iron ore project located in Central Ukraine to production.

Black Iron Inc. increased its listed issuer financing due to strong investor demand.

Black Iron Inc. sponsored and participated in the second Rebuild Ukraine Business Conference in Toronto, Ontario, Canada, in November 2023.

Ukraine’s government proposed leasing land to Black Iron Inc. for the Shymanivske Iron Ore Project’s processing plant, tailings, and waste rock storage.

A study by CRU Group positioned Black Iron Inc. favorably on the global business cost curve for new iron ore projects.

Black Iron Inc. signed a non-binding MOU with Glencore to negotiate financing for the Shymanivske Iron Ore Project.

Black Iron Inc. advanced the Shymanivske Iron Ore Project, hosting multibillion-dollar companies for due diligence on funding construction in exchange for purchasing its 68% iron-content pellet feed.

Former VP for Rio Tinto’s Iron Ore Company of Canada and COO of Algoma Steel.

Former General Manager, Mining for Rio Tinto’s Iron Ore Company of Canada; Worked for Hatch designing global metallurgical refineries.

High iron content results in increased steel blast furnace productivity and lower steel production costs.

Several major milestones are planned to be delivered in the coming months as the project advances towards construction.