Strategic Resources Inc. announced that it has signed a Collaboration Agreement with Tacora Resources Inc. that will explore using Tacora’s iron ore concentrate to feed Strategic’s planned Phase 1 high-purity iron pelletizer project at Port Saguenay. The Agreement will focus on testing of Tacora’s iron ore concentrate to determine the suitability for the direct reduction grade pellets that Strategic plans to produce from the project. The Agreement considers Strategic purchasing up to 25% of Tacora’s future expanded throughput capacity. This could provide the project with approximately 25% to 40% of the required iron ore concentrate feed for pelletizing.
“We are pleased to be engaging with the Tacora team, who’s new leadership has an impressive, demonstrated track record in the iron space. Local Canadian iron ore sources such as Tacora’s Scully Mine in the Labrador Trough will help to increase downstream value creation within the Canadian iron ore industry and enhances the overall development of clean, green steel inputs in Canada,” said Sean Cleary, CEO of Strategic.
“Tacora is committed to supporting the transition to a low-carbon economy, and this collaboration with Strategic Resources represents a significant step in that direction,” said Brian Penney, CEO of Tacora Resources. “Our high-grade iron ore is already being used in the direct reduction iron market, and through this partnership, we will be exploring new opportunities to help drive the growth of green steel production. This is a key part of our strategy to provide high-quality, sustainable products that meet the evolving demands of the global steel industry.”
