The US-Ukraine mineral resources agreement could accelerate Black Iron Inc.’s Shymanivske iron ore project, which has already progressed in the engineering and permitting stages. 

Strategically located in Kryvyi Rih amid seven operational mines, the US$1.2 billion project benefits from Anglo American’s financial backing. With Ukraine lacking large-scale mining expertise, Black Iron is positioned to play a key role in post-war reconstruction efforts. 

The company has leased 248 hectares of land and begun permitting for iron ore extraction at the site. CEO Matt Simpson emphasized the project's potential to contribute to Ukraine’s economic recovery.