China owning ROF chromite? Good idea?
posted on
May 24, 2014 02:51PM
Black Horse deposit has an Inferred Resource Now 85.9 Million Tonnes @ 34.5%
I don't think so, and neither should any sensible Canadian or American. If NOT's backer, Baosteel, becomes the effective owner/controller of CLF's chromite, as well as NOT's, they, and by 'they' I mean China, the country, would have a grip on a substantial part of world supply of this strategic mineral. They already have major influence in Zimbabwe, and are a growing force in South Africa.
The ROF should provide North America with security of supply of this important mineral.
Ideally, from my perspective, KWG could be paid for the esker corridor or negotiate some licensing deals for the gas smelter technology in time to have cash available to bid for some of CLF's assets when those go on sale. That is unlikely to happen, but would be a far better option than having NOT/Baosteel snap up CLF's deposits unopposed, and then turn their attention to KWG with another insultingly lowball bid.
I saw the advert in the Globe & Mail. A lot of effort went into this, and I hope it has the impact it deserves. The main obstacles to the whole Ontario Northland/Port Authority idea are the Federal Govt, with the Cons aversion to anything in which workers, especially unionized workers, have a say in how an enterprise is run, and the Provincial Govt, who see only a short term view. The Prov Gov. will likely go for an east-west road, which costs less, services more remote communities, and can be completed in a short time frame. Which is fine, but only as a first step.
Gravelle seems to still have hopes of CLF being the ROF driver, and has yet to open his eyes to other possibilities. The Libs have grudgingly extended the life of O.N. Rail, but it seems more to avoid another expensive cost boondoggle than because of any intention to turn it into a viable operation.
Now, that all probably comes across as a lot of negativity, but really, obstacles can and will be overcome. We do legitimately have claims along the length of the esker, despite the unbased whining of some, which in turn means we have first preference when granting both a right-of-way and rights to aggregates. We have some extremely valuable patents. We have a great management team. We have quite a lot of chromite up there, with 80% of B.H. and 30% of B.D. Oh yes, and 20% of whatever other minerals may be found on those B.H. claims, such as gold and platinum group metals.
All my personal opinions, verging on ramblings.