Environmental Case For Black Iron's Expected High Grade 68% Iron Ore

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[{"type":"text","content":"Environmental Case For Black Iron's Expected High Grade 68% Iron OreTORONTO, ON / ACCESSWIRE / June 7, 2021 / Black Iron Inc. (\"Black Iron\" or the \"Company\") (TSX:BKI)(OTC PINK:BKIRF)(FWB:BIN) announces that the production of steel using Black Iron's anticipated high grade 68% iron magnetite pellet feed reduces green house gas (GHG) emissions by ~30%[i] as compared to more typically consumed 62% iron hematite fines. Black Iron can also easily further upgrade its product to direct reduction pellet feed as is required to produce steel using green hydrogen which is getting a lot of attention in the media as a promising technology to achieve carbon neutrality.Investors poured a record US$51 billion into Environment, Social and Governance (ESG) focused investments in 2020 which is more than double the prior year[ii]. Climate change in particular is a prominent focus with several countries including the UK, France, Japan and most recently China setting future carbon neutral targets. Given carbon emissions account for ~81% of green house gas emissions (GHG), major corporations including steel producers ArcelorMittal, Baowu, Thyssenkrupp and Voestalpine are following suit by targeting carbon neutrality by 2050.As such there is a fundamental shift occurring in the type of iron ore consumed by steel mills from fines which need to be first sintered (an emission intensive process to fuse fine iron ore particles into larger rocks of various size) to pellets which are small balls of uniform size.When a steel blast furnace is fed with sinter or lumps, energy needs to be continually added until the last lump, typically the largest, is fully melted. Since pellets are all uniform in size, they melt at roughly the same rate thereby substantially reducing the amount of time, energy and resulting emissions generated to produce steel. When looking at the total energy consumed through the full value chain to produce steel, the net GHG emissions using high grade magnetite pellet feed, as Black Iron plans to produce, are reduced by an estimated 30%[iii].Black Iron's Shymanivske mine will be ideally placed to deliver high grade 68% iron content pellet feed which sits at the top 4% purity in the world as shown in the chart below.To meet future anticipated demand for high purity pellet feed, CRU business intelligence estimates that an additional 133 mi...

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