What has changed for Noront Resources since Cliffs Natural Resources’ 20th of November announcement that it will suspend its Black Thor chromite project in the Ring of Fire?
AC: From Noront Resources’ perspective, not much has changed since Cliffs Natural Resources’ announcement. Our Eagle’s Nest project is fundamentally different from what Cliffs had envisaged for their open-pit, bulk-transportation model Black Thor Project: Noront is focusing on a high-grade nickel-copper-platinum group underground mine – from a logistics point of view, this means small volumes of high-grade concentrate.
Consequently, our project economics and infrastructure needs are completely different than those of Cliffs. Furthermore, during our permitting process, we developed our environmental assessment not only for the mine site itself, but also for our transportation corridor and we continue to believe that an East-West route is more appropriate for our needs at this time.
Obviously, having an industry participant leave the region is never a positive development but we are hoping that there is a silver lining to that and this event will underline the need for more timely-decision making regarding key issues such as environmental permitting and infrastructure. These questions cannot remain unresolved forever and we hope that Cliffs’ decision is going to galvanize the process and hopefully bring the federal government to the table as well.