Rinehart’s Hancock weighs $3.3 billion iron ore mine project
Hancock acquired a 51% interest in the Mt Bevan project from Legacy Iron Ore Ltd. and Hawthorn Resources.
It’s not often that a junior mining company has star power in its corner.
Black Iron (TSE:BKI) was busy fielding media calls Monday when the Toronto-based company announced it has retained celebrated CNN talk show host Larry King to help raise the profile of the company.
Black Iron owns the Shymanivske project in Ukraine, an NI 43-101 compliant resource with 345 Mt measured and indicated resources grading 32% iron and 469 Mt of inferred resources grading 31% iron.
The project is surrounded by five other operating mines including ArcelorMittal’s iron ore complex.
Reached by The Toronto Star in the Ukraine, CEO Matt Simpson said King had just concluded an interview with Ukrainian prime minister Mykola Azarov, then went on to say:
The company’s head is still “firming up details” regarding King’s association. “But a lot of it is about opening doors,” Simpson added.
The CEO calls his venture, “the largest-ever direct foreign investment for Ukrainian mining.” He expects Black Iron’s investment to reach approximately $1.6 billion by the time the first mine begins production in late 2015.
As reported by the newspaper, “King sits on the merchant bank’s advisory board, alongside three retired U.S. army generals, a retired British SAS commander and retired Canadian Armed Forces general Lewis MacKenzie.”
Comments
sally liu
Iron is found in the world’s oldest and most widely used, is the largest amount metal, the metal consumption of about 95% of total consumption. Iron ore is mainly used for iron and steel industry, smelting iron and steel according to the different carbon content. more info mation at iron ore beneficiation plant