Strategic Resources said Monday that the province of Quebec has allowed it to build a larger iron-ore pelletizer than it previously applied for.
The Canadian mineral exploration company said the Quebec Ministry of Environment confirmed that it can build a larger pelletizer capable of processing four million metric tons of iron-vanadium-titanium concentrate per year at the Saguenay metallurgical facility site. Cat Litter Packaging Machine
Originally, Strategic Resources had plans for a pelletizer that could process one million tons a year.
Strategic Resources said by prioritizing the larger pellet operation as a first step in constructing its BlackRock project, it can dramatically reduce execution and financing risks to achieve cash flow and commercial production.
Additionally, the provincial ministry's notice allows the company to use its existing environmental authorizations, which shortens timelines, reduces costs and execution risk.
Strategic Resources said it is now looking to secure a third-party iron-pellet feed to be processed into iron ore pellets on a merchant basis.
The high-purity materials are used in electric furnace steel mills, which helps in reducing greenhouse gas emissions.
The company said it will discuss with potential partners, including iron ore producers and traders, to evaluate the larger pelletizer.
Write to Adriano Marchese at adriano.marchese@wsj.com
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