Business
Black Iron Signs Land Lease Agreement With Kryvyi Rih City
Lease covers 248ha of Kryvyi Rih City owned land upon which a large portion of Black Iron's Shyma...
About this update from Black Iron Inc.
[{"type":"text","content":"Black Iron Signs Land Lease Agreement With Kryvyi Rih CityLease covers 248ha of Kryvyi Rih City owned land upon which a large portion of Black Iron's Shymanivske Iron Ore body is locatedLand leased extends beyond envisaged iron ore pit boundaries close to Ministry of Defence land sought for future processing plant, tailings and waste rock stock pilesLease of this land is essential for completing the technical and environmental studies required as part of mining permit renewal TORONTO, ON / ACCESS Newswire / January 28, 2025 / Black Iron Inc. (\"Black Iron\" or the \"Company\") (TSX:BKI)(OTC PINK:BKIRF)(FWB:BIN) is pleased to announce the signing of a legally binding multi-year land lease with the Kryvyi Rih City who own the surface rights upon which Black Iron's Shymanivske iron ore body is located (the \"Land Lease\"). The Land Lease covers 248ha of land critical for completion of currently ongoing Ukraine based environmental and engineering studies required as part of Special Permit No. 4537 renewal (\"Special Permit\"). Additional Kryvyi Rih City owned land will be required to be leased to cover the balance of the envisaged future open pit and discussions to transfer and lease this land have commenced.The Land Lease covers a large portion of the future mining pit, and it extends west beyond the pit limits to the Ukraine central government-owned land currently being used by its Ministry of Defense as a firing range for training. Black Iron aspires to acquire or lease a portion of this central government land for the location of its future processing plant, tailings and waste rock stockpiles.About Black IronBlack Iron is an iron ore exploration and development company, advancing its 100% owned Shymanivske Iron Ore Project located in Kryviy Rih, Ukraine. Full mineral resource details and projected project economics can be found in the NI 43-101 technical report entitled \"(Amended) Preliminary Economic Assessment of the Re-scoped Shymanivske Iron Ore Deposit\" published in March 2020 with an effective date of November 21, 2017 under the Company's profile on SEDAR at www.sedar.com. The Project is surrounded by five other operating mines, including Metinvest's YuGOK and ArcelorMittal's iron ore complex. Please visit the Company's website at www.blackiron.com for more information.For more information, please contact:Matt SimpsonChi...