Jaroslav Kinach, who was Ukraine Country Head of the European Bank of Reconstruction and Development (EBRD) in 1995-1999, has entered the board of Canada's Black Iron, an iron ore exploration and development company based in Toronto with assets in Ukraine.
According to a report of the company made on Tuesday, Kinach will be instrumental in providing guidance to the company on operating in Ukraine and on a broad range of financial matters as Black Iron continues to develop its Shymanivske Iron Ore Project in Kryvy Rih, Ukraine into a world-class iron ore pellet producer.
Black Iron said that Kinach's addition increases the number of directors of Black Iron to seven.
Kinach over the past few years has been CEO of XXI Century. Before working at the EBRD, he worked at Toronto Dominion Bank for 20 years. After leaving the EBRD, he was an advisor to the Ukrainian premier.
In October 2010, Black Iron acquired Cypriot subsidiary Geo-Alliance Ore East Limited from Geo Alliance Group Limited of EastOne Investment Group belonging to Ukrainian businessman Victor Pinchuk, together with licenses worth $13 million, renaming it Black Iron (Cyprus) Ltd.
