16
Jul
01:00
Metinvest provides initial funding for 2 new iron ore mines
Black Iron Inc has received its fourth and final instalment of US$5 million from Metinvest. In return, the Ukrainian metals and mining group now owns 49% of Black Iron (Cyprus) Ltd, otherwise known as BKI Cyprus. Metinvest has so far invested a total of $20m in preliminary funding for two iron ore projects - Shymanivske and Zelenivske. Meanwhile, Black Iron remains the operator and developer of Shymanivske and Zelenivske, Metinvest tells Kallanish.
The project…
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Very good overview of the weekly steel market.
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