Black Iron is ranked as the lowest cost,
undeveloped iron ore project in the world.1

Black Iron's Shymanivske iron ore project offers high economic margins and significant production upside potential thanks to it's close proximity to railway, power, deep seaports and local skilled labour to produce an ultra high-grade, lower emission, 68% iron ore content product. The deposit is located in central Ukraine, with a total of five operating open pit iron ore mines in the area. Ukraine is a mining-friendly jurisdiction with strong local and national support of Black Iron’s project development.

Black Iron has term sheets for a majority of the funds required to fund the construction of the Shymanivske iron ore project from notable investors, including the selection of Cargill as an offtake partner with a US$75 million finance facility. Following Black Iron’s recent successful $11.5m equity financing, the company plans to complete an updated feasibility study for the Shymanivske iron ore project, an environmental and social impact assessment, Ukrainian technical studies and to secure access to land for project construction, all within the coming months.

1 CRU marketing study, 2018

Shymanivske Deposit
Aerial View

There Has Never Been A Better Time To Invest in Black Iron

With governments around the world spending billions on infrastructure and committing to steep cuts in emissions, demand for Black Iron’s high-quality output is expected to continue, ensuring that Black Iron’s product will have the lowest environmental impact and attract the highest premiums.
  1. Low Price for Huge Upside Opportunity – Black Iron’s project represents a potential US$1.7 billion asset that currently trades at a market capitalization of only ~US$100 million (~CAD$130 million).
  2. Top Ranked Project – two of the world’s most respected commodity analysis companies (CRU & Wood MacKenzie) rank Black Iron as the lowest cost undeveloped iron ore project globally.
  3. Premium Product in Supply Deficit – the 68% iron content product planned to be produced ranks in the top 4% globally, results in ~30% lower emissions to produce steel and is predicted to be in supply deficit by market intelligence firm CRU.
  4. Iron Ore Price Rally – Iron ore is currently the highest price appreciating mainstream commodity driven by government’s globally spending billions on infrastructure projects.
  5. Exceptional Infrastructure – very close proximity of railway, power, ports and skilled labour allows for a low-cost phased build.
  6. Quality Leadership – Black Iron’s board and management are former top executives at mining powerhouses Rio Tinto, Cliffs, and Consolidated Thompson.
  7. Strong Government Support – Ukraine’s newly elected President Zelensky has publicly stated his support of Black Iron’s project development.
  8. Upcoming Milestones – several major milestones are planned to be delivered in the coming months as the project advanced towards construction.


Major milestones targeted for completion by year end 2021.


Major milestones targeted for completion in 2022.
Why are we the lowest cost Iron Ore project in the World?

Infrastructure, Financing & Leadership

Black iron has all the key fundamentals in place to develop a highly profitable company. Black Iron’s Shymanivske Project has the highest economic returns and lowest costs compared to it's peers.

Interview with Matt Simpson, CEO

Black Iron is developing the Shymanivske iron ore project in the Ukraine and recently selected Cargill as its off-take purchaser with a US$75 million finance facility.

Recorded on May 16, 2021

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