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)
Message: China watch Canada
https://chinawatchcanada.blogspot.com/2019/04/the-worlds-most-insatiable-consumer.html
“Its a period where China is very aggressively investing outside its borders,” said Alan Coutts, president and chief executive of Noront Resources Ltd. “And because Canada has very big mineral endowments, so of course they are eagerly and quietly investing here.”
Noront is developing the Ring of Fire district in Northern Ontario’s James Bay lowlands, considered one of the largest mineral discoveries in Canada in recent decades, and will initially include a nickel-copper-palladium mine and a chromite mine.
Nickel copper sulfide core samples from the Ring of Fire district in Northern Ontario. Noront needs to raise close to $2 billion to build mines and a ferrochrome smelter here and is looking for Chinese investment.
Not surprisingly, the massive project has received Chinese support. In 2011, Baosteel Resources International Inc, a Hong Kong-based, Chinese state-owned company invested $17.7 million for a 9.9 per cent stake in Noront — since reduced to seven per cent — and a board seat. Coutts said that as the company looks to raise close to $2 billion to build its mines and a ferrochrome smelter, it will likely see if Baosteel would invest again.
“Having a long term arrangement with the Chinese and their insatiable demand and state run - deep pockets is not a bad strategy,” he said.
Other major companies such as Teck Resources Ltd, the country’s largest diversified miner, and even emerging mining companies, such as Pretium Resources Inc., a fast-growing gold company in British Columbia, have also relied on large Chinese investments.
---------------------------------------------------------------------------------------------
-Baosteel is a great partner to have especially with the Tesla Gigafactory in China not far away in completion
======================================================
New Message
Please
login
to post a reply