I saw something the other day, that said a Chinese mining company started shipping ore concentrate from a mine in Canada, to China. Their talking iron ore, but it makes one think.
If it's worth shipping iron ore across an ocean (or 2), then one would think that shipping gold bearing ore would be even more so. I wonder if CRRC is/has negotiated with Chavez, to take some of their portion of ore to China. This would mean that there wouldn't need to be such a huge plant built at LC, and still be able to hit the 15 year time frame. At the same time, it would make it make it more feasible to take in ore from other mines.
|
Wuhan Iron and Steel Co (WISCO), China's third largest steel mill, announces today that its first overseas mine, Bloom Lake, has started to deliver iron ore to China. The first ship has been loaded with Bloom Lake iron ore on June 30, with around 160,000 tonnes 66.5% grade iron ore.
The ship is now berthing at Canada's Sept-iles port (in English: Seven Islands), and will sail seven days later. The destination port is China's Ningbo Port Beilun Dock, then the iron ore will be transferred to WISCO.
Canadian mining and exploration company Consolidated Thompson and China's Wuhan Iron and Steel Corp fnalized terms of an agreement for a USD 240 million investment.
WISCO buys 38.7 million shares of Consolidated Thompson 19.99% of those outstanding for CAD 2.72 each. Consolidated Thompson receives aggregate proceeds of CAD 105.2 million.
The two companies establish a limited partnership in which WISCO holds a 25% interest and to which Consolidated Thompson contributes its Bloom Lake property.
Bloom Lake is a development-stage iron ore project that will have a 34 year mine life, based on its feasibility study.
Pen
|
| |
|
