Metinvest was allowed to purchase a share in the offshore of the Canadian Black Iron

Maternal company Mining and Metallurgical Holding Metinvest B.V. Received permission from the Government of Serbia for the acquisition of 49 percent of the shares of the Cyprus offshore Black Iron (Cyprus) LTD, a subsidiary of the Canadian Black Iron.

For $ 20 million, Metinvest will receive the right to control the two iron ore deposits of Ukraine - Shimanovskoye and Zelenovskoye, developed by the Dnipropetrovsk LLC Shimanovsky Style and LLC Zelenovskoy Style, which in turn are owned by the Cyprus Black Iron. The deposits are leased until November 1, 2024.

The Metinvest group is an international vertically integrated mining and metallurgical company, which owns 24 enterprises in Ukraine, Europe and the USA and provides ore and coal, the production of coke, smelting of steel and the production of flat, varietal and shaped rolling, manufacturing of large diameter pipes and other products.

The main shareholders of Metinvest B.V. are the SCM group (71.25%) and the group of companies Smart-Holding (23.75%) belonging to Ukrainian businessmen Rinat Akhmetov and Vadim Novinsky.