Strategic Resources (TSXV: SR) – a critical mineral development company – has achieved significant progress in developing its planned iron ore pellet plant at Port Saguenay, Quebec. The company has shortlisted leading engineering firms and contractors to conduct the feasibility study and metallurgical testing of the pellet feed concentrates.
Strategic has already submitted all requisite environmental documentation and studies to Quebec’s Ministry of Environment (MELCC), enabling the amendment process for its existing certificate of authorization. This amendment will permit the construction of a facility with an annual production capacity of four million tonnes of iron ore pellets, as outlined in the company’s March 2024 pre-feasibility Class 5 level engineering study.
To capitalize on Quebec’s low-cost hydroelectric power and access to natural gas, Strategic plans to build the plant at Port Saguenay. By leveraging green hydroelectric power and natural gas alongside Port Saguenay’s ability to service the Great Lakes and Atlantic seaborne markets, the company gains a competitive advantage over other pellet plant sites in Canada.
The government currently reviews the amendment, with completion projected within six to nine months. Strategic actively collaborates with regulatory authorities to ensure compliance and efficiency throughout the process.
Construction crews are already installing the bi-directional electric pipe multi-user conveyor system at Port Saguenay, expecting its commissioning by the end of 2025. Workers have successfully installed more than 30% of the conveyor modules. This conveyor system facilitates the transportation of third-party direct reduction grade iron ore concentrate to Strategic’s iron ore pellet plant. Strategic’s planning team prepares for the pellet plant’s construction at Port Saguenay, where the company holds a long-term lease on the core area of the new Port Saguenay Industrial Park. The conveyor system installation will also enable Strategic to export iron ore pellets to its off-taker and marketing partner, Javelin Global Commodities.
Strategic’s management team actively collaborates with its partners to review project risks thoroughly, ensuring a well-informed and robust approach to project execution and the feasibility study. Management conducted several site visits to assess Metso’s technology (the chosen plant manufacturer), focusing on adopting the most effective solutions. The team continues refining execution plans and implementing proactive steps to facilitate a seamless and efficient project rollout. These efforts demonstrate the company’s commitment to operational excellence and strategic project management.
Further details are available on the company’s website at https://Strategic-Res.com/.
