Canadian mining company Black Iron Inc. with assets in Ukraine has started the active process of obtaining permits for iron ore mining within the framework of the implementation of the new Shimanovskiy iron ore project in Kryvyi Rih. According to the materials available to Interfax-Ukraine, a subsidiary of Shimanovskoye Steel LLC has applied for a permit for open-pit iron ore mining in the northern part of the Shimanovskoye open pit.
It is planned that the total volume of overburden ore will be 5.13 million cubic meters, including 1.31 million cubic meters of ore, and the open pit will be 660 meters by 390 meters and 80 meters deep. It is also expected to produce 4.5 million tons of ore per year during year-round operation.
As reported, Black Iron Inc. continues to advance the Shimanovskoye iron ore project, having prioritized it by concluding an investment agreement with the country’s government. The main issue remains the obtaining of a land plot under the jurisdiction of the Ministry of Defense. Discussions with the Ministry of Defense have led to an agreement on the preliminary amount of money that Black Iron will have to pay as compensation for obtaining this land for its use.
The Company has also stated that it is considering new potential projects.
In October 2010, Black Iron acquired the Cypriot subsidiary of Geo-Alliance Ore East Limited, along with licenses, from the EastOne investment group of Ukrainian businessman Victor Pinchuk for $13 million, then renaming it BKI Cyprus. Its main assets are 99% in Shimanovskoye Steel LLC and Zelenovskoye Steel LLC (both in Dnipro).
In July 2013, after a number of problems with the implementation of the project, Black Iron Inc. announced an agreement with Ukraine’s largest mining and metallurgical group Metinvest to develop its iron ore assets. Metinvest B.V. paid Black Iron Inc.$20 million and acquired a 49% stake in BKI Cyprus. However, Metinvest later withdrew from the project.
The Shimanovskoye iron ore deposit is surrounded by five other operating mining operations, including ArcelorMittal’s iron ore complex. Existing infrastructure, including access to power, rail and port facilities, Black Iron believes will allow the project to ramp up to production quickly.
According to the presentation dated May 2021, the expected capital investment for the launch of the first phase is estimated at $452 million, the second – $364 million. The project envisaged the construction of a plant for the production of premium iron ore raw materials with an iron content of over 68% with a capacity of 4 million tons per year in the first phase and 8 million tons per year in the second.
LLC Shimanovskoe Steel was registered in June 2007. Black Iron (Cyprus) owns 100% of Shimanovskoye Steel. The authorized capital is UAH 193 mln 677,830 th.
On Thursday, the international chain JYSK opened a new store in Kryvyi Rih in the Terra shopping center at 1B Charivna Street, the retailer’s press service reported.
“The new JYSK store in Kryvyi Rih is located in the renovated Terra shopping center in the 5th Zarechnyi district. This store is the third in the city, the 99th in Ukraine and one of 29 JYSK stores planned to be opened by the company in August 2024 in Europe,” said JYSK Country Director in Ukraine Yevhen Ivanitsa, as quoted in the press release.
The new store will have a selling area of 1034 square meters, a warehouse of 307 square meters, and office space of 41.05 square meters. In addition, there are additional exhibition areas for furniture in front of the store and on the outer territory of the shopping center.
It is noted that in connection with the opening of the new store in the city, eight new employees joined the JYSK team, and four more were promoted. JYSK has more than 800 employees in the country.
Currently, there are 99 stores and the online store jysk.ua in Ukraine.
JYSK is part of the family-owned Lars Larsen Group with more than 3.4 thousand stores in 48 countries.
JYSK’s revenue in the financial year 2022/23 amounted to EUR 5.2 billion.
Mining and Metallurgical Group “Metinvest” allocated 10 million UAH for the purchase of three medical vehicles for Krivoy Rog, the press service of the company said.
According to the company’s press release, Metinvest together with Kryvyi Rih military administration takes responsibility for provision of food products to vulnerable groups of population, welfare of displaced people and support of medical sphere. Financial support directed by Metinvest to the needs of the city already amounts to UAH 30 mln, the last tranche helped to increase the ambulance fleet.
At the same time, there are over 70 thousand internally displaced people in Kryvyi Rih. At the same time, doctors in the city’s hospitals save the lives of citizens and wounded defenders around the clock, and the issue of increasing the number of ambulances is especially urgent in order to get patients to the operating room in time.
“Metinvest’s help in acquiring an additional number of ambulances will significantly strengthen the mobility of the service,” said Konstantin Murashko, head of the health department of the executive committee of the Krivoy Rog City Council, who is quoted by the press service.
The press release reminds that since the beginning of full-scale war, Metinvest has established regular delivery of aid to Krivoy Rog hospitals. In total, in cooperation with Rinat Akhmetov’s Foundation there were purchases of medical devices, medical equipment and expendable materials for hospitals in Krivoy Rog to the amount of UAH 52 mln.
“Metinvest is a vertically integrated group of mining and metallurgical companies. The group’s enterprises are mainly located in Donetsk, Luhansk, Zaporizhzhya and Dnipropetrovsk regions.
The major shareholders of the holding are SCM Group (71.24%) and Vadim Novinsky’s Smart Holding (23.76%) that manage it jointly.
Metinvest Holding LLC is the management company of Metinvest Group.
PJSC ArcelorMittal Kryvyi Rih (Dnipropetrovsk region) in January-November this year increased production of rolled iron ore by 3.3% compared to the same period last year – up to 10 million tonnes.
An enterprise representative told Interfax-Ukraine about 900,000 tonnes of concentrate were produced in November.
Earlier, the general director of ArcelorMittal Kryvyi Rih, Mauro Longobardo, reported that ArcelorMittal Kryvyi Rih in 2020 increased production of iron ore concentrate by 8.3%, to 10.7 million tonnes, ore extraction increased by 4.5%, to 25.6 million tonnes.
ArcelorMittal Kryvyi Rih is the largest manufacturer of rolled steel in Ukraine. It specializes in production of long products, in particular, rebar and wire rod.
ArcelorMittal owns the largest mining and metallurgical plant in Ukraine ArcelorMittal Kryvyi Rih and a number of small companies, in particular, PJSC ArcelorMittal Beryslav.
PJSC ArcelorMittal Kryvyi Rih (Dnipropetrovsk region) in January-October of this year reduced the output of general rolled products, according to recent data, by 3.8% compared to the same period last year, up to 3.69 million tonnes.
As the representative of the enterprise informed the Interfax-Ukraine agency, steel production during this period decreased by 16.6%, to 3.8 million tonnes, pig iron by 11.3%, to 4 million tonnes. At the same time, sinter production decreased by 11.5% to 7.36 million tonnes.
In October, 320,000 tonnes of rolled metal, 350,000 tonnes of steel, 380,000 tonnes of pig iron, 700,000 tonnes of sinter were produced.
As reported, ArcelorMittal Kryvyi Rih over 2019 increased the output of general rolled products by 11.2% compared to the previous year, to 4.665 million tonnes, steel by 11.8%, to 5.327 million tonnes, pig iron by 14.9%, to 5.310 million tonnes, sinter production increased by 14.3%, to 9.831 million tonnes.
ArcelorMittal Kryvyi Rih is the largest manufacturer of rolled steel in Ukraine. It specializes in production of long products, in particular, rebar and wire rod.
ArcelorMittal owns the largest mining and metallurgical plant in Ukraine ArcelorMittal Kryvyi Rih and a number of small companies, in particular, PJSC ArcelorMittal Beryslav.
The Mining and Metallurgical Combine PJSC ArcelorMittal Kryvyi Rih has signed a contract with OTP Leasing financial support for purchase of four locomotives of CZ Loko based in Czech Republic. According to a press release from ArcelorMittal, the enterprise will receive diesel locomotives of an EffiShunter 1600 worth EUR 9 million in 2020.
OTP Leasing Director Andriy Pavlushyn said that the company had thoroughly prepared the given project with ArcelorMittal team and Czeck colleagues from CZ Loko.
“We are glad that the bargain was successful. For us this is a first step towards this direction: in financing operations with the locomotives, which together with our mobile and farm machineries, trucks and vans will enrich a portfolio of the main products of the company,” a press service quotes Pavlushyn as saying.
For his part, ArcelorMittal Transport Department Director Oleksiy Rybalkin said that the combine would be the first enterprise in Ukraine that will use Czech locomotives of the new generation.
Diesel locomotive EffiShunter 1600 is intended for shunting and line service. The locomotive is equipped with alternating/direct current power transmission (AC/DC) from the diesel engine to six powered wheelsets. Parameters of the vehicle are optimized for station shunting and for heavy operation on industrial sidings, e.g. in metallurgical, mining and petrochemical sectors, and for the line service.
CZ Loko is one of the largest Czech manufacturers of diesel-electric locomotives and special railway vehicles.
