Pellet Project

The Company has decided to prioritize the construction of a 4 mtpa iron ore pellet plant at Port Saguenay in Québec, which would utilize existing permits and long term port lease. Accordingly, consulting engineering firm, BBA was retained in Q4 2023 to study and update capital and operating costs for the larger pellet plant. They remain on track to deliver results in Q1 2024, building on the December 2023 indicative EPC cost estimate from Metso Corporation for the supply of the larger pelletizer unit.

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