Quote from the editorial provided by Ringer:

.....Phase two, costed at $1.15 billion, will see new transmission capacity built north of Pickle Lake and Red Lake servicing the 17 priority communities, with more to come after that......

IMHO: So, by this "more to come after that" comment I guess we can expect the Matawa First Nations, and of course the Ring of Fire, to eventually receive electrification from this Watay Power project, since they too fall in this catagory of being "remote". 

The report below (attached PDF) focuses on the consultation process, and project details, pertaining to the 17 First Nation communities involved in the Phase 2 of the Watay Power project.  Its interesting to note that the Crown will be overseeing the ongoing duty to consult all First Nations identified as potential participants to this project, but has given the acting duty to consult to Watay Power; smart.  This being said, if you look at page 15 in conjunction with last 8 pages of the report you will see that Watay Power must stay in close contact with Matawa on all project details.  Again,  I can only think that Matawa must be part of this "with more to come after that...." comment.

GLTA,

TM.

Birds of a feather, flock together; tweet, tweet.  Trump and O'Leary appear to have been cut from the same expensive cloth, which I believe follows a similar pattern. 

The Wynne that has come in will be blown right out, and O'Leary will become our breath of fresh air.

IMHO,

TM. 

July 24, 2015 11:23 ET

Governments of Canada and Ontario Invest in Innovation at Essar Steel Algoma Inc.

SAULT STE. MARIE, ONTARIO--(Marketwired - July 24, 2015) - Essar Steel Algoma Inc. will benefit from up to $60 million from the governments of Canada and Ontario to strengthen its global competitiveness by supporting technological and product innovation at its integrated steel mill in Sault Ste. Marie.

The funding, announced today by federal and provincial officials, will enable Essar Steel Algoma Inc. to adopt world-class technologies that will improve its production processes, and increase the range and quality of its steel sheet and steel plate products. This includes improving the company's signature technology at its Direct Strip Production Complex, the only facility in Canada that converts liquid steel directly into steel coils.

These activities are part of a more than $240-million project being undertaken by the company. The project, anticipated to be completed by 2022, will ultimately lead to the development of transformative, unique-in-Canada products, while providing high-quality jobs at the steelmaker's facilities in Sault Ste. Marie and throughout its supply chain.

The Government of Canada's investment, supporting activities through 2018, is being delivered by the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) through the Advanced Manufacturing Fund (AMF). The Government of Ontario's investment is being delivered by the Ministry of Northern Development and Mines through the Northern Ontario Heritage Fund Corporation (NOHC).

Quick Facts

In 2014, Ontario primary steel shipments were valued at approximately $10.4 billion, with an additional $2.5 billion in steel product shipments.

Ontario's steel industry directly employs more than 16,000 people and indirectly employs nearly 50,000 people in the province.

Essar Steel Algoma Inc., the second largest of 17 Canadian steel operations, spends $120 million in support of 670 local suppliers and contributes $1.2 billion to Canada's GDP every year.

By 2018, Essar Steel Algoma Inc. expects to increase the casting speed of its Direct Strip Production Complex (DSPC) by approximately 30 percent to increase DSPC output to three million short tons of steel a year.

Essar Steel Algoma Inc. anticipates that the project will create more than 200 jobs, while also supporting the maintenance of approximately 2,500 direct jobs and more than 5,000 indirect jobs.

Quotes

"Since its foundation, Essar Steel Algoma Inc. has been an economic driver for Sault Ste. Marie and northern Ontario. Our Government is pleased to support a company that is committed to investing in its future, in the future of this community and this region."

- The Honourable Gary Goodyear, Minister of State for FedDev Ontario

"Our Government is committed to ensuring Ontario's steel sector remains competitive in today's challenging global market. We recognize Essar is a significant contributor to Northern Ontario's economy, and a major private sector employer in steel manufacturing. This $30-million investment is proof of our continued support the northern economy, including the steel industry in the North."

- The Honourable Michael Gravelle, Ontario Minister of Northern Development and Mines

"Our Government is proud to announce up to $30 million for Essar Steel Algoma Inc. for technological and product innovation at the company. As the number one employer in the area, supporting Essar Steel is also an investment in job creation and economic growth in Sault Ste. Marie."

- Bryan Hayes, Member of Parliament for Sault Ste. Marie

"I am extremely pleased to announce that after many months of work, we are providing the largest grant in decades from any level of government in the amount of $30 million to strengthen our city's largest employer and support a $240 million capital modernization plan that will create more than 200 new jobs and serve to protect more than 2,500 direct jobs and more than 5,000 indirect jobs. This massive investment will help to ensure Essar Steel Algoma remains competitive for years to come, while building industry leading capacities to produce a broader range of products as well as allowing for the increase in total steel output."

- David Orazietti, Member of Provincial Parliament for Sault Ste. Marie

"This investment makes it possible for Essar Steel Algoma to expand our product offering and satisfy emerging market opportunities, improving our productivity, making us more competitive and ultimately more sustainable. That will ensure we have a long-term future in Sault Ste. Marie, producing advanced steel and maintaining vital jobs that make our community stronger."

- Kalyan Ghosh, CEO, Essar Steel Algoma Inc.

Related Products

Backgrounder: Investment in Innovation at Essar Steel Algoma Inc.

Associated Links

Essar Steel Algoma Inc.

Federal Economic Development Agency for Southern Ontario

Ministry of Northern Development and Mines

Growth Plan for Northern Ontario

Backgrounder

July 24, 2015

Investment in Innovation at Essar Steel Algoma Inc.

The governments of Canada and Ontario are providing contributions of up to $30 million each to support a technology adaption and implementation project at Essar Steel Algoma Inc. in Northern Ontario.

Funding will be used for the initiatives outlined below:

Upgrades in the state-of-the-art Direct Strip Production Complex, which will result in improved product quality, higher-value steel grades and increased processing speed;

Adoption of enhanced automation technology in the Plate and Strip Hot Mill Complex, which will improve overall productivity and reliability and reduce energy consumption;

Installation of a new steel refining station, which will enable research, development and production of high-value advanced steel grades.

These changes will allow the company to produce a wider range of steel grades, increase steel quality, and increase production levels to meet Canadian demand, which is largely dependent on imports.

Overall, Essar Steel Algoma Inc. is investing more than $240 million in a Plant Modernization and Expansion Project to modernize its steel making facility through innovative equipment and processes. These activities will raise plant efficiency to the highest industry standard, allowing the company to compete both on cost and quality of product on a global scale. Improving plant efficiencies will also reduce its carbon footprint.

The Government of Canada's $30-million repayable contribution, through the Advanced Manufacturing Fund (AMF), is the first AMF investment in Northern Ontario. AMF is delivered province-wide by the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) with an allocation of $200 million over five years. The Fund was launched to support manufacturers as they work to increase competitiveness, invest in innovation and boost productivity across Ontario.

The Ontario government is investing $30 million towards the project through the Northern Ontario Heritage Fund Corporation (NOHFC). The investment supports long-term sustainability and will help to ensure Essar Steel Algoma Inc. continues to support job growth with more than 200 new and good paying jobs, and a stronger economy for Sault Ste. Marie. Investing in business expansion and job creation in the North is part of the Government of Ontario's Growth Plan for Northern Ontario.

About Essar Steel Algoma Inc.

Essar Steel Algoma Inc. is based in Sault Ste. Marie, Ontario. As a fully integrated steel producer, the company derives its revenues primarily from the manufacture and sale of hot and cold rolled steel products including sheet and plate.

Founded in 1901 as Algoma Steel, the company was acquired in June 2007 by Essar Steel Holdings Limited. Its products are sold to customers in the automotive, light manufacturing, construction, shipbuilding, energy, mining and steel distribution industries.

Related Products

News Release: Governments of Canada and Ontario Invest in Innovation at Essar Steel Algoma Inc.

http://www.pdac.ca/convention/programming/corporate-presentation-forum-for-investors/sessions/corporate-presentation-forum-for-investors/base-metals-international

Corporate Presentation Forum for Investors

Base metals: International

Monday, March 6, 2017, 10:00 AM - 11:40 AM

Location: Room 803

North American Nickel

10:00 AM - 10:20 AM 

Add to Calendar

Sherritt International Corporation

10:20 AM - 10:40 AM 

Add to Calendar

Noront Resources Ltd.

10:40 AM - 11:00 AM 

Add to Calendar

Nevsun Resources Ltd

11:00 AM - 11:20 AM 

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Ivanhoe Mines

11:20 AM - 11:40 AM 

Add to Calendar

Personally, I think it would be very unwise of Noront to release drill results until they are assured that an IBA agreement has been reached with the Matawa First Nations.  Releasing the results now, even if they are ready, would be like telling your fellow poker players what is in your hand before all bets are in.  Why make the stakes in the game any higher by prolonging this poker tournament. I would sooner see Matawa sign on the dotted line, then to know the obvious, which is that our claims are rich with minerals.  That I believe is a given, and why our company is still in the game.

Nothing of this sort (drill results, roads, rail.....) will be made public (IMO) until Matawa shows their cards.

TM.

Cliffs is now working on Essar Steel Algoma's "Achilles Heel".  Take away the iron ore pellets, you shutdown the blast furnaces.  Shut down the blast furnaces, you might as well shut the door.  Essar Global does not have a chance here....so the question is, "Who does Cliffs want to take over Essar Steel Algoma?" or better yet, "Who is telling Cliffs to squeeze the life out of Algoma, a stable, long-time customer, so that it may be taken?"  Doesn't make sense unless someone else has a master plan.  Thank you, Babjak.

https://www.sootoday.com/local-news/some-essar-steel-algoma-employees-jump-ship-as-restructuring-deadline-looms-494395

Some Essar Steel Algoma employees jump ship as restructuring deadline looms

The monitor overseeing Essar Algoma's restructuring wants everything wrapped up by Jan. 31. That could be complicated by a clause slipped into a recently signed supply agreement, allowing Cliffs Mining Co. to refuse to supply iron ore pellets if the Sault steelworks is acquired by Essar Global or a related company.

62

Dec 22, 2016 7:53 PM by: David Helwig

This logo may appear in 2017 over Essar Steel Algoma's Sault steel operations, if Ontario Steel Investments Ltd.'s acquisition bid is successful. The company, which proposes doing business under the Ontario Steelworks brand, is a subsidiary of Essar Algoma's parent company Essar Global, with the same shareholders.

Greater-than-usual employee turnover is occurring at Essar Steel Algoma as a Jan. 31 deadline approaches for concluding the Sault steelmaker's restructuring.

 

Court documents provide no numbers or details, but a report filed this week by the court-appointed monitor overseeing the restructuring describes higher employee turnover as one of several challenges currently faced by the company.

 

"The monitor further understands from management that the applicants’ operations continue to face headwinds resulting from uncertainties in the restructuring process, such as higher employee turnover as compared to the period prior to the Companies' Creditors Arrangement Act proceedings, the ability to make capital expenditures on a timely basis and challenges in dealing with concerned customers and vendors," said the monitor, Brian Denega of Ernst and Young Inc.

 

Denega serves notice that he wants to see the company's protection from creditors ended on January 31 without further extensions.

 

Using unusually strong language, he calls on everyone involved to get the job done.

 

"The monitor is of the view that a viable and consensual going-concern solution will broadly benefit all stakeholders," Denega said.

 

"Continued delay exposes Algoma’s business to greater uncertainties and risk of failure. In light of the foregoing constraints and concerns, the monitor strongly encourages all stakeholders to engage in expedited and meaningful discussions to effect a successful restructuring as soon as possible."

 

That may be a tall order, given other recent developments.

 

Cliffs may terminate supply deal if Essar Global is approved as purchaser

 

Essar Steel Algoma is an integrated steel producer.

 

Unlike other steelmakers that use electricity to turn steel scrap into liquid steel, Essar Algoma uses a blast furnace to melt iron ore pellets (with a small amount of scrap steel) into hot metal.

 

This necessitates a stable supply of iron ore pellets because shutting down a blast furnace, even for a short time, can have serious negative effects on production, sales, employees and customer relations.

 

Cliffs Mining Co. recently signed an agreement to supply Essar Algoma with its most important raw material  — iron ore pellets — until the end of 2020.

But that agreement includes a clause allowing Cliffs to terminate the deal if Essar Algoma is acquired by Ontario Steel Investments or any other entity related to, affiliated with or controlled by Essar Global.

The termination option was a firm condition imposed by Cliffs in signing the supply agreement, the monitor reported.

Iron ore pellets account for about one half of Essar Algoma's total raw material costs.

Under the recently signed agreement, Cliff's would supply about 70 per cent of Essar Algoma's annual iron ore needs.

Steel prices stabilizing

North American prices for hot-rolled coil steel recovered significantly in the first half of 2016, then softened in the second half, slipping below $500 a net ton in October.

"However, the market has shown signs of stabilizing in the recent weeks," the monitor said, citing the most recent price of US$586.

"It should be further noted that Algoma's cash flow for the period of April to November 2016 has benefited materially from the suspension of of certain costs pursuant to the stay of proceedings and/or court orders, including approximately $29 million of special pension deficit payments and approximately $102 million of interest on [pre-insolvency] secured debt for the same period," Denega reported.

As for closing a deal to sell the Sault steelmaker, the monitor reported: "Closing of the sale transaction requires the settlement of a variety of issues between the term loan bidders and certain key stakeholders. With a view to furthering the sale transaction in an expeditious manner, the term loan bidders and their advisors have had various meetings with the applicants and key stakeholders, including: the USW [United Steelworkers] and its Locals 2724 and 2251, as well as relevant provincial and federal governmental authorities."

"At present, the monitor is not in a position to disclose further details with respect to these meetings due to their confidential nature."