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: tenaris, sinopec, Webequie

(1)         notice the relationship below?

https://www.steelguru.com/steel/tenaris-inks-long-term-corporation-agreement-with-sinopec/33757

Mr Zhenying Jiang president of Sinopec Procurement Subsidiary and Mr Marcelo Ranieri area manager of Tenaris in China have signed a MoU in November 2007 to serve as the foundation for strategic, long term cooperation between the two parties and designating Tenaris as one of Sinopec\'s preferred international suppliers.

(2) And Tenaris just last week…

Tenaris Algoma Tubes, a Sault Ste. Marie steel seamless tube manufacturer, received $16 million from Ottawa.

A July 26 news release from the federal government indicated the money is earmarked for upgrades to the Wallace Terrace facility, adjacent to Algoma Steel in the city's west end.

https://www.northernontariobusiness.com/industry-news/manufacturing/sault-tube-mill-lands-16-million-from-feds-1608753

These folks need chrome in some of their steel grades for oil and gas. How convenient to be adjacent to Essar Steel Algoma. See below link

http://www.tenaris.com/en/products/octg/steelgrades/corrosionresistantalloys.aspx

(3) You can bet Tenaris will be supplying the NON corrosive (chrome-nickel) stuff to Sinopec.

https://edmontonjournal.com/news/politics/first-nations-backed-proposal-for-8-5-billion-refinery-revived-by-chinese-investment-after-provincial-funding-pulled

The project would cost around $8.5 billion and could process over 160,000 barrels of diluted bitumen (dilbit) per day

The Alberta First Nations Energy Development fund will hold an equity stake in the project, said Horn.

He said construction is slated to start in 2021 with commissioning set for 2025. The project already has a 2,400-acre site in Lamont County northeast of Edmonton, he added….

Being aligned with First Nations on this project certainly helps our outcomes on the approval process.”

The partnership between Sinopec, China Construction Installation Engineering Co. Ltd., which is a subsidiary of China Construction Group, and Middle East Gulf Huatong Jinggang Chemical Co. Ltd. to build the refinery is dubbed SinoCan Global.

(4) And Sinopec is no stranger to the ROF. This WHOLE link is worth a good re-read for a number of reasons…not just Sinopec.

https://www.ourcommons.ca/Content/Committee/411/RNNR/Evidence/EV5394810/RNNREV27-E.PDF

My next question is for Mr. Hanson.

I have an email here that is far too long for me to read completely, so I'm just going to summarize it. Last year Sinopec, a Chinese company, bought part of Syncrude, and with their stake in the Syncrude oil company, they have a veto for refining oil in Canada.

Now Hong Kong-based Baosteel Resources has purchased 9.9% of your company, and they have an opportunity to buy 19.9%.

Can you tell me whether they have a veto right on refining minerals in Canada?

Mr. Wes Hanson: No, they do not at all. The Baosteel investment in Noront was a strategic investment. We used it basically so we could fund the completion of the feasibility study on our nickel sulphide deposit and increase our chromite resources at our Blackbird chromite discovery. Ultimately about 50% of the world's chromite is consumed in China, and about 65% is consumed in Asia as a greater market. That's where it's all flowing right now. Twenty-five years from now, it will be India, and 25 years after that it will probably be Africa. That's the sort of globalization trend we're seeing, and Canada is just one of many contributors in a global market of raw materials.

(5)FROM 2012

 https://www.cbc.ca/news/canada/thunder-bay/ring-of-fire-sparks-chinese-interest-in-mining-1.1153947

Chinese company Sinocan expected to start drilling near Webequie next month

 recent delegation of Chinese diplomats visited Webequie First Nation, as Chinese company Sinocan is expected to start drilling in the chromite-rich region known as the Ring of Fire next month. (CBC)

Chinese diplomats are intent on building trust with northern Ontario First Nations to further their mining interests, according to a Chinese-Canadian business man.

Peng You, a Thunder Bay resident with ties to China, helped facilitate a recent visit by China's Consulate-General to Webequie First Nation. He said the arrival of one of China's top diplomats in Canada is significant.

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