Highlights:
- The Governments of Canada and
Quebec have demonstrated forward
thinking by enhancing the capability of Port Saguenay with their
commitments to funding the important new multi-user conveyor
system.
- The conveyor system will allow material to be transported from
the wharf to Strategic's planned operations at the Port of Saguenay
industrial park, where it has a long-term lease agreement.
- Strategic is currently evaluating increasing the planned
throughput of its pelletizer project component to four million
tonnes of iron ore pellets per annum, which can be delivered to the
wharf via the new conveyor.
MONTREAL, Dec. 12,
2023 /CNW/ - Strategic Resources Inc.
(TSXV: SR) (the "Company" or "Strategic") is pleased to
announce the Governments of Canada
and Quebec are funding
$111.2 million to the Saguenay Port
Authority for the construction of a mechanized handling system
intended for multi-user bulk materials. This conveyor, powered
by hydroelectricity, will connect the maritime terminal to
industrial storage and railway marshalling spaces located in the
industrial-port zone ("IP zone") of Saguenay. Its commissioning is
planned for 2025.
Sean Cleary, CEO of Strategic
Resources commented: "This is a very positive announcement for both
Port Saguenay and Strategic Resources. Our BlackRock Project will
be able to benefit from this new conveyor system as we pursue the
opportunity to build a four million tonne iron ore pellet plant. We
would like to congratulate the Port and its team for this major
investment."
The Minister of Economy, Innovation and Energy, Minister
responsible for Regional Economic Development and Minister
responsible for the Metropolis and the Montreal region, Mr. Pierre Fitzgibbon, made the announcement on
December 11th in the company of the
Minister of Municipal Affairs and Minister responsible for the
Saguenay-Lac-Saint-Jean region, Ms. Andrée Laforest, and the
Member of Parliament for Dubuc and
parliamentary assistant to the Minister of Tourism, Mr. François
Tremblay and the Mayoress of
Saguenay.
The Federal Government of Canada is granting the Saguenay Port Authority
a contribution of $55.2 million. The
Government of Quebec is providing
a loan of $36.8 million, from the
Ministry of the Economy, Innovation and Energy, as well as
financial assistance of $19.2 million
from the Ministry of Transport and Sustainable Mobility.
Both the Federal and Provincial levels of government reaffirm
that the Port of Saguenay represents a central economic engine for
the development of the Saguenay-Lac-Saint-Jean region. The Saguenay
IP zone has been identified as a priority site by the Quebec
Ministry of the Economy, Innovation and Energy.
In addition to the $111.2 million
for the construction of a mechanized handling system intended for
multi-user bulk transportation, Quebec previously committed to paying
$105.5 million for the establishment
of multi-user infrastructure for the IP zone of Saguenay
(electricity, gas and water) and has also recently announced a sum
of $20 million for the expansion of
the wharf at Port Saguenay. This brings the total announced
investment supporting the area and the BlackRock Project to over
$235 million.
About Strategic Resources
Strategic Resources Inc. (TSXV:SR) is a critical mineral
exploration and development company focused on high-purity iron and
vanadium projects in Canada and
Finland. The Company is developing
its flagship BlackRock Project, which is a fully permitted and
ready to construct mine, concentrator and metallurgical facility
located at the Port Saguenay seaport in Québec with full access to
the St. Lawrence Seaway. The Company's Head Office is in
Montreal, Quebec.
Further details are available on the Company's website
at https://strategic-res.com/. To follow future news releases,
please sign up at https://strategic-res.com/contact/.
Follow us on: Twitter or Linkedin.
STRATEGIC RESOURCES INC.
Signed: "Sean
Cleary"
Sean
Cleary, CEO & Director|
For further information email info@strategic-res.com or
contact:
Alex Meterissian
VP ESG & Communications
+1 (514) 316-7096
Scott Hicks
EVP Corporate Development
+1 (604) 646-1890
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Cautionary Note Regarding Forward-Looking
Information
Certain statements and information herein, including all
statements that are not historical facts, contain forward-looking
statements and forward-looking information within the meaning of
applicable securities laws. Such forward-looking statements or
information include but are not limited to statements or
information with respect to future planned operation. Often, but
not always, forward-looking statements or information can be
identified by the use of words such as "will" or "projected" or
variations of those words or statements that certain actions,
events or results "will", "could", "are proposed to", "are planned
to", "are expected to" or "are anticipated to" be taken, occur or
be achieved.
Although management of the Company believes that the
assumptions made and the expectations represented by all
forward-looking statements or information are reasonable, there can
be no assurance that a forward-looking statement or information
herein will prove to be accurate. Forward-looking statements and
information by their nature are based on assumptions and involve
known and unknown risks, uncertainties and other factors which may
cause the Company's actual results, performance or achievements, or
industry results, to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements or information. These factors include,
but are not limited to: risks associated with the business of the
Company; business and economic conditions in the mining industry
generally; the supply and demand for labour and other project
inputs; changes in commodity prices; changes in interest and
currency exchange rates; risks relating to inaccurate geological
and engineering assumptions (including with respect to the tonnage,
grade and recoverability of reserves and resources); risks relating
to unanticipated operational difficulties (including failure of
equipment or processes to operate in accordance with specifications
or expectations, cost escalation, unavailability of materials and
equipment, government action or delays in the receipt of government
approvals, industrial disturbances or other job action, and
unanticipated events related to health, safety and environmental
matters); risks relating to adverse weather conditions; political
risk and social unrest; changes in general economic conditions or
conditions in the financial markets; and other risk factors as
detailed from time to time in the Company's continuous disclosure
documents filed with Canadian securities administrators. Strategic
does not undertake to update any forward-looking information,
except in accordance with applicable securities laws.
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SOURCE Strategic Resources Inc.
