Approval Kryviy Rih City Council to Initiate Land Allotment Black Iron Recieves Approval from Kryviy Rih City Council to Initiate Land Allotment Process
Approval to Initiate the Land Allotment Process is A Key Milestone in Obtaining the Surface Rights for the Shymanivske Project
TORONTO, ONTARIO--(Marketwired - March 29, 2017) - Black Iron Inc. ("Black Iron" or the "Company") (TSX:BKI)(FRANKFURT:BIN) is pleased to announce that Shymanivske Steel LLC ("Shymanivske Steel"), Black Iron's wholly owned Ukrainian subsidiary, has obtained approval from the Kryviy Rih City Council to prepare a land allotment plan in connection with Shymanivske Steel's proposal to lease the surface rights for the Shymanivske iron ore project from the city of Kryviy Rih. The land allotment plan is a detailed report to be prepared by Shymanivske Steel to show the city of Kryviy Rih how Shymanivske Steel proposes to use the leased land by describing the proposed major infrastructure and utility tie-ins required for the Shymanivkse project. Shymanivske Steel shall include the location of the iron ore open pit, equipment maintenance shop and refueling area as the main infrastructure needed in the land allotment plan. The utility tie-ins to be described in the land allotment plan include electrical power lines, fresh water connections, waste water connections and access roads. In connection with the approval from the Kryviy Rih City Council, the Shymanivske project is now officially shown on the city of Kryviy Rih's territorial plan (an official city map that stipulates how land within the city of Kryviy Rih will be used).
Nikolay Bayrak, Black Iron's Vice President Government & Community Relations, commented: "This is a major milestone in the Company's development as obtaining City Council approval to initiate the land allotment process was the result of an extensive process of documentation and public hearings culminating in a vote by Kryviy Rih City Council. I am very pleased by the strong support from City Council as 50 councillors voted in favour of awarding Shymanivske Steel the permission to initiate the land allotment process and only four councillors abstained from voting with none objecting."