QualityStocksNewsBreaks – Black Iron Inc. (TSX: BKI) (OTC: BKIRF) (GR: BIN) Inks MOU with Glencore plc (OTC: GLNCY) (OTC: GLCNF) Subsidiary to Fund Shymanivske Iron Ore Project Construction
Canadian iron ore exploration and development company Black Iron (TSX: BKI) (OTC: BKIRF) (GR: BIN) this morning announced the company has signed a non-binding Memorandum of Understanding (“MOU”) with a subsidiary of Glencore plc (OTC: GLNCY) (OTC: GLCNF). Per the MOU, the parties agree to engage in formal negotiations to finance the construction of the Shymanivske Iron Ore Project. Areas for negotiation in the MOU include the contemplation of Glencore making an investment to help fund construction of the project in exchange for securing the offtake of up to the full phase one planned annual production of four million tonnes,…