My bet on Teck.
posted on
Nov 26, 2018 04:33PM
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)
So many little dots over the years are starting to create a pattern for me.
If you were to ask me which mining company would join forces with Noront, I would say that my bet is on Teck Resources.
My thinking is , the others like Glencore, BHP, maybe even RIO, Sumitomo, Mitsubishi ...will play a role in offtake agreements.
But Teck is ,Canada's largest miner based in Vancouver.
And with this new Made in Canada labelling, they make the most sense. Also notice the verdict in the Aecon case (The federal government has blocked the sale of Canadian construction company AeconGroup Inc. to Chinese interests, citing national security)
Do you remember the same for Sask's Potash when BHP Billiton tried to do a hostile takeover? This foreign takeover attempted by BHP ...was blocked by the fed's.
Now, imagine the significance of the ROF.
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The day before the Fed's Fall economic statement was delivered , it was the meet the miners breakfast where Sohi was speaking.
Noront was there but so was Teck and Agnico eagle mines. ALL THREE are CANADIAN Based.
Angico mentioned during this event that "better infrastructure was needed in the NORTH."
Noront, did mention they were looking for a Gold Partner.
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China Investment Corp(CIC),is a shareholder of Teck.
https://news.ontario.ca/opo/en/2010/11/investment-chromite-top-agenda-for-premier-in-hong-kong.html
back in 2010, Mcguinty met with Citic to discuss Chromite. CIC and CITC are joined at the hip.
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Teck has existing relationships with both Mitsubishi and Sumitomo
Look at the board members at teck. Two are from Sumitomo.
https://www.teck.com/about/board-of-directors/
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My post below from the past, notice Arcelor and sumitomo,
https://agoracom.com/ir/Noront/forums/discussion/topics/699186-chromite-part-2/messages/2173659
another post from below featuring markham, sumitomo, and Eabametoong.
https://agoracom.com/ir/Noront/forums/discussion/topics/714535-you-wanted-reading-luker
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and then there is this:
Dominic Barton, who became chairman of the board of Teck just 2 months ago.
a little about Domenic:
Mr. Barton has been the Global Managing Partner of McKinsey & Company for the past nine years.
He is the Chair of the Canadian Minister of Finance’s Advisory Council on Economic Growth and the Chair of the Seoul International Business Advisory Council. He is also a Trustee of the Brookings Institution, a Rhodes Trustee, and an Adjunct Professor at Tsinghua University in Beijing. He is one of the founders and serves on the Board of FCLT Global (Focusing Capital on the Long Term) and is a member of the Boards of Memorial Sloan Kettering in New York and the Asia Pacific Foundation in Canada.
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With Domenic's role in FCLT, notice some familiar names.
Dominic is the cochair of the Focusing Capital on the Long Term initiative along with Larry Fink (BlackRock), Andrew Liveris (Dow), Cyrus Mistry (Tata), and Mark Wiseman (BlackRock). The initiative seeks to develop practical structures, metrics, and approaches for longer-term behaviors in the investment and business worlds.
Also, when I went on the website of FCLT, I noticed ...... Glencore...is a ..member
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Dominic recently did a presentation in Sask in march of this year, and it seems he could not get infrastructure and steel off his mind.
http://www.agwest.sk.ca/blog/posts/unleashing-agriculture-in-canadas-economic-future-dominic-barton-presentation.html
"Infrastructure
In a country the size of Canada, getting our products to port relies heavily on transportation infrastructure. “There is a gap in our existing infrastructure bank,” said Barton. “We have a 150 billion dollar, to a trillion-dollar infrastructure gap. We’ve got to improve transportation to the ports and improve port capacity.” He told the audience to expect to hear more about infrastructure mega-projects in the near future."
Even though the topic was unleashing ....agriculture...seems Domenic's mind was on steel when he said the below...
Barton identified several countries with far fewer resources than Canada who have much higher levels of productivity. South Korea, for example, has created POSCO, a world-leading steel industry in a country with virtually no natural resources. “What Korea is lacking in resources,” said Barton, “they make up for in ambition. If we could apply South Korea’s ambition to Canada’s agricultural sector, we would be number one in the world.” At the very least, Barton suggests Canada set a goal to be headquarters to 30 percent of the world’s most important companies in the sector.
It’s time to fire up our ambition to unleash our potential, says Barton.
“I hope we are very ambitious about what we do in this important sector. There are so many subsectors to unleash!”
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When I read the above it was as if Domenic was talking about the ROF and thinking... Geeze...Posco is #4 largest stainless producer in the world with virtually no natural resources...If we could apply Posco's ambition..we could be number one in the world... you'd think he'd come up with an agriculture example due to the topic of the seminar?? But seems he had steel on his mind.
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Domenic is also on this committee.... a recent PDF below.
UNLEASHING PRODUCTIVITY THROUGH INFRASTRUCTURE, Advisory council on Economic Growth.
https://www.budget.gc.ca/aceg-ccce/pdf/infrastructure-eng.pdf
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So, I have my bets on Teck and Noront doing some sort of a deal together.