Black Iron Advances Projects Amid Ongoing Challenges

Black Iron Inc. has focused this year on securing necessary approvals to advance its Shymanivske iron ore project in Ukraine. The company's main efforts centered on completing studies and holding public hearings required for permit renewal. This was essential as Ukraine's new rules demand companies mine a minimum of 1% of their ore body before renewal.

The company is also negotiating with nearby mines to process ore, avoiding large fundraising efforts. This step is vital before kicking off commercial operations at Shymanivske, expected in early 2026. Black Iron further seeks backing for a potential Julienne Lake project in Canada, which offers promising economic prospects.

Looking ahead, Black Iron plans to finish the required mining at Shymanivske and secure additional funding to expand project permits, despite geopolitical challenges. The ongoing dialogue with Newfoundland & Labrador's authorities and Anglo American marks an important stride in securing rights for Julienne Lake.