Black Iron management has announced that in In September 2019 it will host a multibillion-dollar Asian construction company that has expressed an interest to invest approximately $50 million in equity in exchange for being awarded a construction contract.
This group has already completed a detailed review of the Shymanivske Iron Ore Project resulting in a non-binding expression of interest including $50 million funding offer being submitted. Black Iron’s financial adviser has reached out to several European export credit agencies and banks requesting expressions of interest to provide debt financing for construction and several of these groups have stated they will be making a submission at the end of August.
Glencore’s iron ore team has reached out to several potential companies that may be interested to invest with them in Black Iron’s project and made itself available for due diligence calls with other potential investors.
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