KYIV, Oct 15 – Canada's Black Iron, implementing the investment project to create a new iron ore production facility in Kryvy Rih, said multiple groups participated in the first round resulting in the company receiving expressions of interest to invest in exchange for securing offtake rights.

Black Iron said that offtake allows the investor to secure the rights to purchase Black Iron's initial entire expected annual production of 4 million tons of pellet feed at a slight discount to market price, in exchange for making an investment towards construction of the Shymanivske iron ore project.