Re: Miner plans on shipping chromite to Asia
in response to
by
posted on
Nov 22, 2011 01:56PM
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)
Cliffs must be posturing for a better deal with the chromite processing done in the Orient. That better deal is probably a trade off of local processing for better power rates.
Note that it does Cliffs not much good to process in China when it is imperative that N. American chromite be destined for US needs re. source security for strategic reasons. In addition, ship the product back and forth?
Noront may only need to process it's chromite as per Cliffs implication, but the nickel ore can be processed in Ontario, at least that is my impression.
From_Sudbury, as I remember that discussion about chromite economics was more along the line that the market for the product is fairly limited so not much can be dumped without depressing the price. That is why the N. American find is considered huge, because it will supply the needs of N. America and a bit more for 70 to perhaps 100 years.
Hey Stratopod, Re Federal tax collecting. More appropriate for the government to pay proper interest on money they owe us from over payments same as they do on taxes over due to them. Right now one rule for them and another for us.
Just wishful thinking that politicians would serve us instead of themselves.