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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Message: Pittsburg, Fedeli, ATI

Yesterday, this news came out:

Minister Fedeli Delivers Open for Business Message to State Partners and U.S. Businesses in Pittsburgh

 

TORONTO — Today Vic Fedeli, Minister of Economic Development, Job Creation and Trade, issued the following statement after returning from the Council of State Governments Eastern Regional Conference in Pittsburgh, Pennsylvania:

"Our priority during meetings with U.S. political and business leaders was to discuss shared priorities like creating and protecting good jobs and working together on areas of mutual interest to drive economic growth and prosperity.  We made our position on Buy American restrictions crystal clear to them - that nobody wins when protectionist measures are implemented.  Therefore, we will continue to urge the federal government to work to secure an exception for Canada from Buy American restrictions, and we will work with them and support their efforts to do so.

"Ontario is the top export market of 19 states. Given the significance of the U.S. market in terms of investment and trade potential, this mission was an important opportunity to showcase Ontario on an international stage, while attracting jobs and investment right here at home.

 

"Ontario is quickly becoming one of the best places in the world to invest and do business. Our government is reducing job-killing red tape and has taken actions that will save businesses $5 billion this year alone. We will continue to build strong partnerships abroad and send the message loud and clear that Ontario is open for business and open for jobs."

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Pittburg made me think about Pittsburg`s  ATI again.

ATI's(Allegheny Technologies), key markets are aerospace and defense particularly commercial jet engines (over 50% of sales), oil & gas, chemical process industry, electrical energy, and medical.

I mentioned ATI last year in this post.

https://agoracom.com/ir/Noront/forums/discussion/topics/716467-wow-ati-sure-could-use-a-deal-with-noront-algoma-in-the-sault/messages/2209285

They reported in Jan of this year, that Trump`s tarrifs are costing them 16 million per year.

https://www.post-gazette.com/business/pittsburgh-company-news/2019/01/23/Allegheny-Technologies-Trump-tariffs-Midland-Beaver-County-mill/stories/201901230011

The Pittsburgh specialty metals producer also reported that the plant has paid $16 million in tariffs to import stainless steel slabs from Indonesia

Despite the costs, company executives said they remain committed to running the plant in the hopes that the Trump administration will soon approve its request for an exemption from the tariffs, which were imposed in March 2018. 

The operating loss highlighted the financial strain for ATI, which restarted the mill last year with China’s Tsingshan Group, the world’s largest stainless steel producer.

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In April of this year ATI was told their 232 exclusion request was ....denied. 

Even though:

The impetus for the JV, and the resulting obligation to exclusively purchase stainless steel slabs from Indonesia, was born out of ATI’s second reason for the requested exclusion – stainless steel slabs necessary to operate the Midland Plant have never been, and are still not available from other U.S. producers.

No Sufficient and Reasonably Available Supply of Domestic Stainless Steel Slab The exclusion requested by ATI is limited to stainless steel slabs, which are not reasonably available on the U.S. market. In sum,  Virtually all U.S. production is not reasonably available on the merchant market because it is captively consumed by ATI and its U.S. competitors to produce downstream stainless steel products;

https://ir.atimetals.com/news-and-events/news-releases/2019/04-24-2019-220802974

PITTSBURGH--(BUSINESS WIRE)-- Allegheny Technologies Incorporated (NYSE: ATI) today learned that the A&T Stainless joint venture’s previously filed Section 232 tariff exclusion request has been denied by the US Department of Commerce.

The joint venture (JV) imports semi-finished stainless slab products from Indonesia to produce 60-inch wide stainless sheet products for sale in North America. These slabs will continue to be subject to the 25% tariff levied on all stainless steel products imported into the United States.

“While we are disappointed that the U.S. Department of Commerce denied the JV’s Section 232 tariff exclusion request, it does not change our strategy of returning ATI’s Flat Roll Products segment to sustained profitability,” said Robert S. Wetherbee, ATI President and CEO. “Although we believe the unique status of the North American stainless steel industry warranted approval of our exclusion, we are committed to meeting our customers’ needs and delivering value to our shareholders. We will work with our joint venture partner to determine our next steps.”

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Tsingshan is the largest stainless steel manufacturer in the world.

Tsingshan manuactures in Indonesia and China, perhaps their JV with ATI can allow for production of the stainless in USA

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Jul 31, 2019 05:16PM
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