Strategic Resources looking to use iron-ore concentrate from Scully mine
TSX-V-listed Strategic Resources and Tacora Resources, the operator of the Scully mine in the Labrador Trough, have signed a collaboration agreement to explore the use of Tacora’s iron-ore concentrate in Strategic’s planned Phase 1 high-purity iron pelletiser project at Port Saguenay.
The agreement focuses on testing Tacora’s iron-ore concentrate to determine its suitability for the direct-reduction-grade pellets that Strategic intends to produce.
Under the terms, Strategic could purchase up to 25% of Tacora’s future expanded throughput capacity, potentially supplying 25% to 40% of the required iron-ore concentrate feed for the pelletiser project.
"We are pleased to be engaging with the Tacora team, whose new leadership has an impressive, demonstrated track record in the iron space. Local Canadian iron-ore sources such as Tacora’s Scully mine in the Labrador Trough will help to increase downstream value creation within the Canadian iron-ore industry and enhance the overall development of clean, green steel inputs in Canada," said Strategic Resources CEO Sean Cleary.
Tacora CEO Brian Penney added that its high-grade iron-ore was already being used in the direct reduction iron market. "Through this partnership, we will be exploring new opportunities to help drive the growth of green steel production. This is a key part of our strategy to provide high-quality, sustainable products that meet the evolving demands of the global steel industry."
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