Objectif Nord: a $ 800 million steel mill project in Baie-Comeau

https://www.lesaffaires.com/blogues/evenements-les-affaires/objectif-nord--un-projet-dacierie-de-800-m-a-baie-comeau/607932

Posted Feb1st 2019

The Baie Comeau Minerals Partnership (BCMP) does not only intend to establish a new steel mill on the North Shore. The company wants to revolutionize the concept of mining production and processing within the region. BCMP President and CEO Enrico Di Cesare will be coming to share the highlights of this project valued at more than $ 800 million at the 15th Objectif Nord conference, presented by Les Affaires Events, on April 9, 2019. Quebec.

What is this project?

Enrico Di Cesare: First, our project plans to produce one million tons of steel or more. He also expects to consume iron ore from the mine, which is more than 300,000 tonnes of ilmenite for at least 20 years. Developed in partnership with the Chinese company Beijing Shoughang International Engineering Technology Company (BSIET), this project will be based on a process that generates 20 to 30 percent less carbon dioxide than the competition. Our steel plant project is expected to result in more than 250 direct jobs, and many more indirect jobs. As for the mine, it should generate more than a hundred jobs.

You say that this mine has some peculiarities. What are they ?

E. Di C.: The deposit is completely recrystallized. This makes it possible to separate the crystals of ilmenite and iron oxide. It also contains phosphate in the pure form of apatite. Ilmenite is used to produce TiO2 pigment for the manufacture of paint, non-transparent plastic. Apatite serves, for its part, to produce fertilizers that we would like to transform locally eventually.

How will your project differ from others?

E. Di C.: In Quebec, we have developed a strong culture based on the extraction of ore. However, these mines rarely encourage the processing of ore on the spot. Everything is transported elsewhere. Thanks to our Nathalie project, which plans to exploit an iron and ilmenite deposit located 50 km northeast of Baie-Comeau, we want to not only establish our steel mill in the Baie-Comeau industrial park, we want our The factory serves as a spark for processing plant projects in the surrounding area. The ultimate goal is to create a synergistic industry

What do you mean ?

E. Di C.: We want our residual materials to serve as resources for other nearby businesses and the public. Today's technology can help reduce residual materials from mines. For example, we can reuse the excess gas for the industries in the area, create electricity for our needs and the community. Slag from the steel mill will be used to reduce the CO2 of cement plants.

Is the project well advanced?

E. Di C.: We have an agreement in principle to fund more than 70% of the project costs of $ 800M. The feasibility studies should be completed by the end of 2019. And if everything looks good, the construction work should start early next year.

Finally, why did you choose Baie-Comeau as a rental?

E. Di C: We analyzed about ten locations in northeastern Canada. The city of Baie-Comeau had very large lots near a deep-water port accessible year-round. There are also deposits nearby whose iron content would normally be rejected. And above all, there is a great opportunity to create a synergy between other companies in the area.

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I don't have access to the next article (posted 2 days ago) from the same journal:

https://www.lesaffaires.com/dossier/industrie-miniere/un-projet-d-acierie-de-800-m-a-baie-comeau/609300

A $ 800 million steel mill project in Baie-Comeau

Edition of April 06, 2019

MINING INDUSTRY. For more than 20 years, Enrico Di Cesare has wanted to set up an iron transformation project in the Côte-Nord region. The CEO of North Shore Green Iron (NSGI Steel) says he has finally found the right way: the exploitation of iron ore and ilmenite ...