You may not agree because you have a FWR bias and a NOT hate but many others think the same as Hamilton. Not everyone thinks Noronts management are stupid, even if bashers keep saying it, it doesnt make it so. especialy here. Maybe you should go home to FWR or Cliffs. Its obvious your not a Noront supporter and are looking to just disrupt instead of inform.
"You need something that will last for years to justify the infrastructure up there and it looks like the chromite is going to derive that," said Watson.
Joe Hamilton, interim co-CEO of Noront, predicts both will be necessary to justify the cost of accessing the site and bringing in power.
But the jury is still out on the feasibility of mining the chromite, he warns.
"The global market for chromite is less than 12 million tonnes per year, so even if you have 100 million tonnes of material – and we’re still a long way from determining that – the question is ‘What production rate do you need to support the infrastructure?’ The next question is ‘Will the production rate be so large that you kill the market?’
"If a production rate of five million tonnes per year is required to get an appropriate return and repay the capital, that’s unrealistic, given the size of the global market, so there’s still a lot of work to do."
"What that tells me is that we need to find more nickel sulphides to expand that resource because, if the belt is going to be developed, it’s going to be a combination of nickel and chromium. I don’t think, quite honestly, that the chromium is going to be a stand-alone. I don’t think the global market is going to be able to support the required production rates without cratering the chromite price."
