So much talk....like they are the only game in town.
Note that besides Cliffs Black Thor Deposit, the Ring of Fire possesses many other equally impressive Chromite deposits, like the Big Daddy Deposit, the Black Label Deposit, the Black Creek Deposit, the Blackbird Deposits, the Black Horse Deposit, and let's not forget Noront's world class nickel find, the Eagle's Nest. We also have Noront's Vanadium/Titanium, AT-12, and JJJ Gold deposits.
Again, another news piece where there is no mention of Cliffs refusal to give consideration to mining the Big Daddy Deposit first, where KWG has a 1/3 interest.
Funny too....that now Cliffs is apparently working closely with the natives, after initial plans to make their road private. I'm wondering if any money changed hands to get Moonias to become so Cliffs friendly all of a sudden. Regardless, they have yet to come to terms with the environment assessment process, which remains another huge stumbling block for Cliffs.
You need to look at these facts:
How much chrome has been found and by who? How much upside is there (due to limited drilling thus far)?
What is the potential for how much will be mined each year?
When you answer those questions, you begin to realize that there several other alternatives for who mines what. It's not likely there is enough demand for two Chrome mines.
To give in to the notion that Noront needs Cliffs, is to attibute Noront's proven Chrome deposits worthless. Remember when BAO bought in to Noront with $17.4 million; what was it they were interested in? Remember, much of that money was used proving up their chomite.
Here is a quote from that financing announcement...
"Baosteel provides us access to one of China’s largest steel and stainless steel producers that has expertise in the production of ferrochrome, knowledge of the product specifications of stainless steel and knowledge regarding the costs and logistics of trans-oceanic shipping. This partnership will be a valuable asset in developing our chromite and nickel sulphide discoveries.”
