Agoracom: Small Cap Investment - Noront Resources

HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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The Steel Recipe

posted on Jan 20, 2009 05:36AM

There are many recipes for steel, depending on the desired end result. Some of the ingredients can be difficult to get at times which causes great problems for the cook/baker. I'm sure that is not the case at present but over the years, steel producers have attempted to take control of this problem by "growing their own" ingredients. Sixty years ago, five steel mills in the states tackled the problem by developing a huge iron ore resource in Labrador. They hired Hanna Mining from Cleveland to coordinate and manage the project that became the Iron Ore Company of Canada and the largest iron ore producer in North America. Brian Mulrooney was president of the company before becoming Prime Minister and Conrad Black was at one time a large shareholder. IOC has been very successful since then LOL.The ownership in the mine by the steel companies depended on the percentage of the iron ore that they made a longtime commitment to. Most of the steel companies have gone now and IOC is owned by Rio Tinto. They will be expanding when the markets improve.

This concept is still a valid one. The largest steel maker in the world with 63 million tonnes (2006) annual production is Arcelor Mittal and although they did not originate in North America, they have operations here. In fact they have the largest share of steel markets in United States at 25% with US STEEL following with16% and NUCOR with 21%. This is one hell of a lot of steel to produce!!They are focusing on mining activity in accordance with their integrated business model. Their strategy is to actively develope a raw material base as a hedge against rising input costs.( this is right from their website) Already they have mines in Kazakhstan, Algeria, Mexico, US, and yes, in Canada. In fact, that brings me back to Labrador and IOC because Arcelor Mittal has an iron ore mine in Fermont Que. which is only twenty kilometers from IOC in Lab City NL.

Given their corporate strategy to control their own ingredients and with their experience in our Canadian North, maybe this is the cook that will want the chrome.