Strategic Resources reveals green steel plans - One2One Investors Forum
Last updated: 08:57 21 May 2025 EDT, First published: 07:57 21 May 2025 EDT
Strategic Resources EVP Corporate Development & Director Scott Hicks talked with Proactive about the company’s phased strategy to support the global green steel transition, starting with an iron ore pelletizing plant in Quebec.
Hicks explained that Strategic’s three-phase plan begins with a $500 million pelletizing facility at Port Saguenay, capable of producing 4 million tonnes annually. He said, “It’ll be probably one of the greenest pellets in the world from an embedded carbon point of view.” This facility leverages natural gas and hydroelectricity for a lower carbon footprint and benefits from existing infrastructure and support from the federal and provincial governments.
Phase two will focus on producing hot briquetted iron (HBI), with Hicks noting the growing demand among steelmakers transitioning to electric arc furnaces. Phase three involves backward integration with Strategic’s mine in central Quebec, which will supply high-purity pig iron and by-products like vanadium and titanium.
The company has already secured key partnerships, including a 4-million-tonne supply and marketing deal with Javelin Commodities, and financing support from the Quebec government, which holds 41% ownership.
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