Cargill Metals has agreed to invest US$75 million in a Canadian major iron mining project in Kriviy Rih.

In the deal Cargill, a major international iron ore trader, has agreed to take 4 million tons of iron ore from the Shymanivske mine, reports Black Iron Inc. “We are very pleased to help finance Black Iron’s Shymanivske Project,” Lee Kirk, managing director of Cargill Metals, said, noting environmental benefits. Black Iron’s CEO Matt Simpson released a statement saying: “Black Iron’s planned 68% iron content magnetite pellet feed is in the top 4% of global production by iron content and is anticipated to reduce emissions generated in the production of steel by an estimated 30%.”