Strategic Resources makes good progress on BlackRock project as it targets greener steel

Proactive - Interviews for investors

Strategic Resources Inc. (TSX-V:SR) CEO Sean Cleary takes Proactive's Stephen Gunnion through the company's progress on the BlackRock project in Quebec and its plans to support decarbonization in the steel industry. Cleary explained that Strategic Resources aims to produce high-purity iron ore pellets required for electric arc furnace steelmaking, which can reduce CO2 emissions by two-thirds. Cleary highlighted the strategic location of the BlackRock project at Port Saguenay, offering access to the Saint Lawrence River and proximity to natural gas and hydroelectric power. “We can make a better pellet that's higher purity and that has a lower CO2 footprint than our competitors,” he said. Phase 1 of the project has a projected capital cost of just under $500 million. The company anticipates a final investment decision by late 2025 or early 2026, with full operations expected in 2028. Cleary also detailed collaboration agreements with Javelin Global Commodities and Tacora Resources, covering both supply and offtake. In addition, Cleary touched on the Mustavaara project in Finland, noting its relevance to electric furnace steelmaking and its long-term strategic fit. Investors can look forward to several milestones, including permitting updates, further collaboration agreements, and progress on securing the USD 300 million debt financing arranged with Société Générale. Visit Proactive's YouTube channel for more videos, and don't forget to give the video a like, subscribe to the channel and enable notifications for future content. #SteelDecarbonization #GreenSteel #IronOrePellets #StrategicResources #BlackRockProject #PortSaguenay #LowCarbonSteel #TSXV #MiningInvestment #EnergyTransition #CleanEnergyMaterials