Strategic Resources Partners with Tacora for Green Steel Development Efforts

Strategic Resources Collaborates with Tacora Resources



Strategic Resources Inc. (TSXV: SR), a company dedicated to developing critical mineral projects in Canada, has made a significant move in the sustainable steel production landscape by entering into a Collaboration Agreement with Tacora Resources Inc. This partnership aims to explore the use of Tacora's high-grade iron ore concentrate for Strategic’s ambitious Phase 1 High-Purity Iron Pelletizer project located at Port Saguenay. This initiative marks an important stride toward enhancing the sustainability of iron and steel manufacturing in Canada.

The Collaboration Agreement



The recently signed Agreement binds both parties to a shared exploration of Tacora’s iron ore concentrate. The primary focus will be on testing this concentrate to determine its suitability for the direct reduction grade pellets that are essential for the production process at Strategic’s site. Under the terms of the Agreement, Strategic may purchase up to 25% of Tacora Resources' future expanded throughput capacity. This arrangement could potentially satisfy approximately 25% to 40% of the iron ore concentrate feed that is required for the pelletizing operation, aligning with the growing demand for sustainable steel inputs.

Statements from Company Leaders



Sean Cleary, CEO of Strategic Resources, expressed enthusiasm about collaborating with Tacora, highlighting the team's proven record in the iron ore sector under new leadership. Cleary noted that sourcing iron ore from local Canadian suppliers such as Tacora's Scully Mine in the Labrador Trough could enhance value creation within the Canadian iron ore industry and contribute to the overall development of low-emission steel production methods in the country.

In response, Brian Penney, CEO of Tacora Resources, emphasized the company's commitment to aiding the transition toward a low-carbon economy. He stated that this collaboration represents a meaningful step forward and underlines Tacora's strategy to provide high-quality, environmentally sustainable products that fulfill the evolving requirements of the international steel market. He mentioned that their high-grade iron ore is already being utilized in the direct reduction iron market, and this partnership will foster new opportunities that promote green steel initiatives.

About the Companies Involved



Tacora Resources is a private company specializing in the production of high-grade iron ore products that boost the efficiency and environmental performance of steelmaking operations in Europe, the Middle East, and Asia. The company operates the Scully Mine, an iron ore concentrate producer situated near Wabush, Newfoundland and Labrador, boasting a production capacity of six million tonnes per year.

Strategic Resources Inc. is poised to become a key supplier of green steel inputs, with a planned metallurgical facility in Canada and ambitious iron and vanadium projects spread across Canada and Finland. Its flagship initiative, the BlackRock Project, is a fully permitted mining and metallurgical facility planned for a seaport in Québec, which will significantly contribute to the regional economy and environmental sustainability. The first phase involves constructing a high-purity iron ore pelletizer with a proposed capacity of four million tonnes per year at Port Saguenay.

For more information about Tacora Resources, visit tacoraresources.com and for details on Strategic Resources, check out their website at strategic-res.com. Follow their updates on social media platforms like Twitter and LinkedIn to remain informed about future developments.

Conclusion



The collaboration between Strategic Resources and Tacora Resources marks a critical development in the quest for sustainable steel production. By leveraging local iron ore sources and focusing on environmentally friendly practices, this partnership not only supports the growth of the Canadian mining industry but also contributes positively towards global efforts for a greener, low-carbon future.

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