- Black Iron and Glencore signed a memorandum of understanding for the purpose of securing funds for construction of the Shymanivske Iron Ore Project
- The project’s favorable characteristics have helped generate interest from various other international investors
- The Shymanivske Iron Ore Project will produce premium iron ore concentrate, which is set to continue growing in price over the next years as demand for steel also increases
A partnership between Black Iron Inc. (TSX: BKI) (OTC: BKIRF) (GR: BIN) and a subsidiary of Glencore plc (OTC: GLCNF) (OTC: GLNCY) is anticipated to provide a material amount of the funding needed for the construction of Black Iron’s Shymanivske Iron Ore Project.
On February 20, the two entities signed a non-binding memorandum of understanding (“MOU”) for the purpose of engaging in formal negotiations for the financing of construction. The MOU calls for Glencore to make a material equity investment in…
The technical and scientific contents of this article have been reviewed and approved by Matt Simpson, P.Eng., CEO of Black Iron, who is a Qualified Person as defined by NI 43-101.
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