- Project offers short transport distance to steel growth markets of Turkey, Egypt and the Middle East, with rail, port and power-access secured
- Premium 68 percent iron content pellet feed generates fewer emissions per ton of steel and at a lower cost due to increased steel blast furnace productivity
- Global crude steel output was up nearly 5 percent in March over the prior year, rising to 155 million tons
Canadian iron ore exploration and development company Black Iron Inc. (TSX: BKI) (OTC: BKIRF) (GR: BIN) is advancing its Shymanivske iron ore deposit located in the historically rich Krivyi Rih region of Ukraine at a time that appears favorable for investors as iron ore prices increase and the global appetite for steel remains strong. Black Iron’s plans to produce an ultra-high-grade, 68 percent iron ore pellet feed with few impurities at very low cost at its Shymanivske project have been independently reaffirmed by highly regarded market intelligence groups CRU and Wood Mackenzie.
Iron ore is essential to steel-making, and Black Iron projects that its 68 percent premium iron, pellet feed product will sell for a significantly higher price than the 62 percent and 65 percent iron benchmark products. Iron ore prices are continuing to rise as ongoing strength in Chinese steel futures and seasonal demand for steel remains strong worldwide, an article published by Business Insider reports (http://nnw.fm/Gx711).
“Seasonal demand improvement will continue to support steel prices,” Richard Lu, analyst at CRU consultancy in Beijing, told Reuters (http://nnw.fm/Q8JJs). “Construction activities typically pick up in May and June when the weather is usually favourable.”
Black Iron presents an appealing outlook for investors as the World Steel Association reports that global steel output rose to 155 million tons in March 2019, up 4.9 percent from a year earlier (http://nnw.fm/De5QQ). Of the 64 countries reporting crude steel production, China topped the list with an increase of 10 percent at 80.3 million tons, the association reports.
Global iron ore prices are forecast to rise 11.4 percent in 2019 due to supply disruptions from key mines in Brazil and Australia, along with China’s fiscal stimulus that are seen as strengthening steel consumption, according to an article published by HellenicShippingNews.com (http://nnw.fm/R3dWF).
Black Iron recently closed the second and final tranche of an earlier announced private placement of units. The funds generated through the non-brokered private placement are earmarked for securing essential land surface rights and furthering the advancement of the Shymanivske iron ore project, with construction expected to begin later this year (http://nnw.fm/iw0nX).
The technical and scientific contents of this article have been reviewed and approved by Matt Simpson, P.Eng., CEO of Black Iron, who is a Qualified Person as defined by NI 43-101.
For more information, visit the company’s website at www.BlackIron.com
NOTE TO INVESTORS: The latest news and updates relating to BKIRF are available in the company’s newsroom at http://nnw.fm/BKIRF
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