The US-Ukraine mineral resources agreement provides the $1.2B Black Iron ore project a boost.

Canadian mining company Black Iron Inc., which operates the Shymanivske iron ore project, has supported the signing of a joint mineral resources agreement between Ukraine and the US, hoping that the document will provide its new mining project with assistance.

The project’s successful implementation will create a development roadmap for investment under the agreement. The lack of companies with experience in launching large-scale mining operations in Ukraine will provide opportunities for Black Iron to participate in post-war reconstruction. According to Black Iron, the project is already well advanced in its engineering and permitting, is strategically located in the center of Ukraine (Kryvyi Rih), and has financial support from global mining company Anglo American.

The Shymanivske iron ore project is expected to attract $1.2B in investment over its lifetime and contribute $2.2B to the Ukrainian economy. It will create thousands of jobs, introduce new innovative technologies, revive industrial infrastructure, and demonstrate to the world that Ukraine is open for business.