A Canadian company has leased nearly 250 hectares of land in Kryvyi Rih.

The Canadian iron ore exploration and development company Black Iron has announced the signing of a legally binding long-term agreement with the city of Kryvyi Rih for the lease of 248 hectares of land. This was reported by the press service of the mining company, as conveyed by "Vidomo".

This area is critically important for completing the environmental and engineering studies necessary for the renewal of Special Permit No. 4537 for the development of the Shimanovsk iron ore deposit.

"The lease agreement covers 248 hectares of land, which is crucial for completing the environmental and engineering studies being conducted in Ukraine as part of the continuation of Special Permit No. 4537," the statement reads.

The Black Iron project includes:

• Mining iron ore with a high iron content (approximately 68% Fe after beneficiation);
• Construction of a modern processing plant for producing concentrate;
• Development of infrastructure for transporting products to export markets.

At the same time, according to the agreement, the leased area encompasses a significant part of the future quarry and territory extending to the west of Ukraine, which is used by the Ministry of Defense as a military training ground. On this land, Black Iron plans to establish its future processing plant, tailings storage facilities, and waste rock storage.

Additionally, the company has already begun negotiations with the city authorities of Kryvyi Rih for leasing additional plots necessary to cover the remainder of the future quarry.

It should be noted that the Shimanovsk deposit, located in Kryvyi Rih, has significant reserves of high-quality iron ore, making it strategically important for the metallurgical industry.

The deposit is in close proximity to five other operating mines, including YUGOK of Metinvest and the ArcelorMittal iron ore complex.