Tomorrow
Black Iron’s CEO, Matt Simpson, will be participating in a panel entitled “Untapped Potential: Ukraine as Europe’s Next Industrial Powerhouse” at the Ukraine House event occurring alongside the World Economic Forum in Davos Switzerland on January 22nd to discuss his experience, current positive changes and the importance of investing in Ukraine at this time. The World Economic Forum is a once per year meeting attended by senior government officials, CEO’s of top company’s and opinion leaders to discuss, learn and shape matters of global importance.
This is an great opportunity to raise with world leaders the importance of Ukraine having highly successful examples of foreign investment, such as the funding and construction of Black Iron’s iron ore mine, as the most sustainable way for the country to realize its citizens ambitions of having higher living standards. As a Canadian publicly traded company on the Toronto Stock Exchange, Black Iron’s experience and success serve as an important benchmark for other foreign investors to help attract and provide confidence on investing as a foreigner in Ukraine.
Ukraine’s President Zelensky publicly stated his support for Black Iron’s project development and since taking power only seven months ago his party and government have already made several positive changes such as removing immunity from prosecution for Members of Parliament and overseeing the launch of the anti-corruption court. Under this new government, Black Iron was able to successfully sign a memorandum of understanding to transfer land owned by Ukraine’s government that is essential for project construction and discuss a roadmap outlining further items requiring expedient government involvement to realize this great investment opportunity with senior members of Government.
Given the high economic returns across a broad range of iron ore prices, Black Iron’s project has attracted the interest of several large trading houses, steel mills and European banks plus export credit agencies to seriously evaluate funding project construction. To realize this exceptional investment opportunity, it is critical Ukraine’s government continues to provide timely access and meaningful support as foreign investors think globally balancing off return on investment with risks such speed of execution when deciding where to invest.