Black Iron Shymanivske Steel LLC has been granted the right by the Kriviy Rih city council to prepare the land plan for the construction of the iron ore plant.
The company intends to state in the plan the open-pit mine, repair shop, and fuel reserve site as the main infrastructure objects.
In 2010 Black Iron bought a license from East One to prospect and develop iron ore deposits on a site near Kriviy Rih. The license is valid until November 1, 2024.
According to the estimates, the Shivanivske reserves amount to 646 million tons of 32% Fe iron ore. This will be enough for 14-19 years of operation depending on the output volumes. (Ukrainian metal)