HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Message: Re: Algoma, lenders and Noront....True Value.
7
Sep 28, 2017 10:24AM

Luker, 

My opinion is..

The gov't of Canada does not need to be pressed on the importance of the steel industry.

Canada has never been a threat to the health of the USA steel industry...it has been the cheap imports from places like China and Taiwan.

Even Mexico whose labor rates are cheaper got hurt...and actually did something about it

http://www.recyclingtoday.com/article/mexico-steel-tariff-china-taiwan/

The government of Mexico has imposed import duties on certain types of steel imported from China and Taiwan, according to a government registry entry posted online (in Spanish) in early June 2017.

 

The conclusion of the lengthy registry entry states that tariffs ranging from 22 percent to 76 percent now are being imposed on designated types of steel from China and Taiwan.

 

Types of steel targeted include galvanized, galvannealed and other zinc-coated, flat-rolled steels.

 

Based on the comprehensive analysis of the arguments and evidence described in this resolution, the Secretariat concluded that sufficient evidence exists to support the view [that] imports of coated flat steel originating in China and Taiwan were carried out under conditions of price discrimination and caused a threat of injury to the domestic industry of the like product,” the Mexican government registry entry states in its conclusions section.

 

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so, what was announced...yesterday....

Yep, a nice juicy investment by Arcelormittal into ..Mexico... 

https://www.reuters.com/article/us-mexico-arcelormitta/arcelormittal-plans-1-billion-mexico-investment-by-2020-chairman-idUSKCN1C332Q

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Don't worry Luker...the same is coming here..in Canada....the Chamber can relax.

Steel duties will be imposed to prevent dumping by China..Taiwan..etc..

But....

Algoma needs to be put to bed ..first..

We wouldn't want conditions in Canada looking attractive...just yet...

 

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