With Jim Carr and Morneau in China, this wk.

Please add the following to your thinking.

For those new to Noront, Baosteel is a strategic shareholder of Noront with a member(Bo Liu) on their board. And Baosteel changed it’s name to Baowu(after  it took over Wuhan)

Wilbur Ross is Trump’s Commerce secretary. Wilbur’s son runs WL Ross & Co.

Think back to the ingredients to make the electric cars and think back to what Noront has in the ground.

And then, please read the below and put the pieces together.

Bo Liu

Board Member NORONT RESOURCES

Bo Liu was appointed to the Board of Directors on April 7, 2017. Mr. Liu has held the position of Senior Manager of Global Resources Development with Baosteel Resources International Co. Ltd. since November 2010. Previously, Mr. Liu held several positions within Baosteel Resources Co. Ltd., including Senior Manager of Resources Planning and Developing Department (August 2008-October 2010) and Senior Manager of Alloys Trading and Developing (Aug 2006-July 2008).  Mr. Liu graduaded from Tongji University in Shanghai, China with a Master Degree of Business Management

==============================================================

Notice one day after April 7, 2017...

https://www.prnewswire.com/news-releases/wl-ross--co-china-baowu-steel-group-us-china-green-fund-and-china-merchants-group-to-form-a-strategic-partnership-to-invest-in-the-chinese-steel-sector-300436819.html

NEW YORK, April 8, 2017 /PRNewswire/ -- WL Ross & Co. LLC ("WLR"), Hwabao Investment Corp., the investment arm of China Baowu Steel Group,  ("Baowu"), U.S.-China Green Fund and China Merchants Finance Holdings Co., Ltd. today announced that they have signed a framework agreement to form a joint venture for the purpose of establishing an investment vehicle to acquire steel industry assets in China.  The venture brings together the complementary backgrounds and experience of each of the partners to focus on the development of a long term plan to enhance the commercial and environmental viability of the Chinese steel industry.

The framework agreement sets forth the terms upon which the parties have agreed to jointly establish Four Rivers Investment Management Company (the "JV").  The JV is expected to establish an investment vehicle dedicated to the domestic Chinese steel production sector. Through the investment vehicle, the JV expects to make investments totaling RMB40 billion to RMB80 billion.

WLR and Baowu will lead the shareholder group to establish the investment vehicle as well as to identify and invest in underperforming steel industry assets. The goal is to restructure distressed balance sheets and create operational efficiencies through process improvements and capacity rationalizations.  Members of WLR, Baowu and senior management of the JV will comprise the investment committee.  Each shareholder will have representation on the board of directors.

"With roughly 50% of global capacity, China clearly represents the fulcrum of the steel making industry," said Stephen Toy, Senior Managing Director & Co-Head of WLR. "By establishing this vehicle with world-class partners anchored by one of the world's largest and most advanced steel companies, we believe we will be well positioned to create long-term value through a transformational investment approach."

"We are excited to partner with such world-class institutions to address the significant overcapacity in the Chinese steel industry," said Zhuping Zhou, Chairman of Hwabao. "Our lead partner's steel industry experience and investment success with International Steel Group will be instrumental in creating a long term viable industry within China."

The JV will be headquartered in Shanghai, China.  Once established, Mr. Zhuping Zhou will become CEO, and Dr. Weihua Ma, previously CEO and President of China Merchants Bank Co., Ltd., will serve as Chairman of the JV.

About WL Ross & Co. LLC

WL Ross & Co. LLC is a New York based private equity firm.  During its approximately 20 years of history, the firm has completed turnaround investments in industries ranging from steel and other materials, coal, automotive parts, banking and financial services, shipping, and energy.  WL Ross & Co. has been a subsidiary of Invesco since 2006.

About Hwabao Investment Corp.

Hwabao Investment Corp. is a wholly owned subsidiary of China Baowu Steel Group Co., Ltd., and dedicated to investments and relevant consultation services in metallurgical and other related industries.

About U.S.-China Green Fund

U.S.-China Green Fund was jointly initiated by The Office of The Central Leading Group for Financial Economic Affairs in China and the Paulson Institute in the U.S. with a mission to promote sustainable green development in China through innovative U.S.-China cross-border collaboration.

About China Merchants Finance Holdings Co., Ltd.

China Merchants Finance Holdings Co., Ltd. is a subsidiary of China Merchants Group and principally engaged in the financial service business and related investments.

https://www.prnewswire.com/news-releases/four-rivers-completes-successful-recapitalization-of-chongqing-steel-300580933.html

https://www.cnbc.com/2018/03/19/electric-vehicles-ceo-says-its-next-big-green-tech-investment.html

SHANGHAI and NEW YORK, Jan. 10, 2018 /PRNewswire/ -- Four Rivers Investment Management Co., Ltd. ("Four Rivers"), a joint venture led by WL Ross & Co. LLC ("WLR") and China BaoWu Steel Group ("BaoWu") has completed a comprehensive restructuring and recapitalization of Chongqing Iron & Steel Co. Ltd. ("Chongqing Steel" or the "Company").  Chongqing Steel operates eight million tonnes of annual capacity to produce long product, hot rolled coil and plates with end market exposure to the construction, infrastructure, shipbuilding and automotive industries.

……….

The transaction marks one of the largest bankruptcy restructurings in the sector within China and is an important first transaction for our steel focused Four Rivers fund," commented WLR Managing Director Nadim Z. Qureshi who heads the Asian private equity activity for the firm.

http://www.otaisteel.com/baosteel-shares-tesla-will-increase-use-ultra-high-strength-steel-baosteel-preparing-supply/

May 9, 2017 at 9:09 am

Baosteel shares: Tesla will increase the use of ultra-high strength steel, Baosteel is preparing for supply…

It is worth mentioning that, in this ultra-high strength steel before cooperation, Baoshan Iron and Steel shares and Tesla had an intersection. “Baosteel is a supplier of Tesla in 2015, mainly for the bulk supply of some steel parts of Tesla,” said Baosteel ‘s share of surging news.

At present, Baosteel shares in China’s auto market share of 60%.”

In addition, Baosteel said that by virtue of its absolute leadership position in China’s auto market, “Baosteel and the domestic most of the new energy vehicles have close cooperation.”

 Oct. 17, 2018

https://www.cnbc.com/2018/10/17/tesla-buys-new-plot-for-its-first-china-factory.html

Tesla buys new plot for China factory for $140 million

·         Tesla acquired a plot in Shanghai's Lingang area for the electric car maker's new factory.

·         Tesla expects the factory to produce its first cars in three years, according to an earnings release in August.

·         The local subsidiary of Elon Musk's company bought the industrial-use land for 973 million yuan, or $140 million, on Wednesday, according to China property transaction records from Shanghai-based financial data company Wind Info.

==================================================

If you relook at this pdf below and go to page 9 you will see the importance of china , clearly spelled out.

https://www.ppforum.ca/wp-content/uploads/2018/10/DiversificationNotDependence-PPF-OCT2018-EN.pdf

And, if you consider the market share of Baosteel in automotive, or infrastructure , etc...you feel pretty good  knowing they are a shareholder and board member of Noront.