you mention:
"Noront doesn't have any financial backing or capability to build a plant. They don't even have a mine let alone FUNDING FOR THAT"
and yet high speed internet will be provided to reserves nearest to the ROF ...what a benefit..to continue from there... to the RING. MUCH CHEAPER
And the closure of Debeers Victor mine...what a bonus to know that the 20MG of power is "available" and only 120km away.
when your "broke" others will reach for the tab and pay the bill....
Look at what the gov't (taxpayers) did for Algoma. Did you forget?
convering the Essar Algoma pension shortfall for Bain & Goldentree and not to forget covering Half (150Million) of the 300 million dollar price tag.. to modernize the plant!
When the issue of smelters came up ...it was the Sault that offered to provide a FREE ONE.
https://agoracom.com/ir/Noront/forums/discussion/topics/697104-a-potential-free-smelter-what-a-savings/messages/2169842
You just never know what Timmins will offer for "poor" low cap Noront. Kidd Creek Closure is slated for 2022 and Glencore is currenty looking at drill results to see if it makes economic sense to extend this .
https://www.northernontariobusiness.com/regional-news/timmins/is-there-new-life-for-kidd-mine-1510179
"The plan to extend the mine life was considered by some to be the worst kept secret in Timmins. Even newly elected Timmins Mayor George Pirie commented in January that the city was hoping for some positive news.
“We do not know whether or not Glencore will be able to extend the life of the Kidd Creek Mine. We know if they are not successful the community stands to lose over $100 million in annual payroll and over $50 million in annual goods and services spend by 2022,” said Pirie in his inaugural state-of-the-city speech.
As it stands now, the official word is that the mine is still slated to close in 2022, based on the premise that the mine is so deep it is not economical to recover the ore from deeper than 10,000 feet.
The Kidd Mine is currently the deepest base metal mine in the world with active mining taking place at 9,600 feet and the shaft bottom is currently at 9,889 feet, more than three kilometres deep.
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If the Sault saw the benefit of providing a smelter, maybe Timmins will too...for poor, low cap Noront. You just never know.
