Black Iron will leave Ukraine if it cannot extend its special permit. The Rada is preparing a decision

Black Iron, the Canadian mining company that owns Shymanivske Steel LLC and develops the Shymanivske iron ore deposit in Dnipropetrovska oblast, has announced a possible exit from the Ukrainian market. The announcement was made by Pavlo Komaritsky, CEO of Shymanivske Steel, at the United by Mining conference.

"We really considered the question: if we cannot extend our special permit [ed. – No. 4537], the company will leave the market. We will not continue to finance this project."komaritsky emphasized.

At the same time, he added: "But we are trying to act and have not left yet, we are working in the Ukrainian market. We are trying to take all the necessary measures to extend the special permit after the war."

According to him, the company has been trying to get the necessary land plots for the full launch of the project for 10 years, but currently has only about 200 hectares (10% of the required).

This allows for the start of mining, but does not create the conditions for the construction of a production cycle for ore processing and beneficiation.

Komaritsky also suggested that the period of extension of the special permit should correspond to the duration of martial law, as he sees war as a force majeure circumstance.

At the same time, the Verkhovna Rada assures that the issue of extending the special permits is already being discussed with key government institutions.

"We have agreed between the state authorities, the Verkhovna Rada, the State Service of Geology and Mineral Resources, the Ministry of Environment (now the Ministry of Economy) on the possibility of extending special permits that expire during martial law for two years after its completion."," said Oleh Bondarenko, chairman of the Verkhovna Rada Committee on Environmental Policy and Nature Management.

At the same time, he said, the possibility of a longer extension is also being considered if there is sufficient economic justification.

• In December 2024, Black Iron began receiving ore mining permits at the Shimanovskoye field.
• At the end of January 2025, Black Iron signed a multi-year land lease agreement with the city of Kryvyi Rih, where most of the Shymanivske iron ore deposit is located.