Cargill Metals, a major international iron ore trader, has agreed to take 4 million tonnes of iron ore per year from Shymanivske mine near the central Ukrainian city of Kryiviy Rih, the mine’s Canadian owner, Black Iron Inc. said.

Cargill is also offering a $75 million finance facility to be used for the project construction.

“We are very pleased to help finance Black Iron’s Shymanivske Project,” Lee Kirk, Managing Director, Cargill Metals said, citing the project’s environmental benefits.

“A relationship with Black Iron would be an excellent fit with Cargill Metals’ growth strategy to develop a high-grade and CO2 reducing iron ore portfolio, to help customers navigate the environmental and carbon challenges and opportunities ahead, and to support the sustainability efforts and low carbon ambitions of the ferrous industry.”