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Evening.. Good post johnthegolf.. Another thought is, if JIMAB are in any hard - talk re any possible JV, and want to retain a majority holding (an absolute must for investors), then it’s understandable that any money partner should want, even insist, that their preferred individual is appointed to head JIMAB.. Nothing new in that way.. Perhaps this individual is just one part of something much bigger on its way, and will help to secure big capital and much more in the short.. We don’t know, however, appointing someone at this stage of the game (2026 is fast approaching), without running the name by those with whom JIMAB hope to partner would be an unforced error, Imo.. In respect of a straight sale for N.Kallak, its difficult to value as the Kallak’s haven’t been fully measured.. imo.. atb…..
Evening.. gotreal, the SP is very low and we are hoping, and some expecting positive news re the appeal decision.. One other factor might be, When H2GS signed deals with Rinto and vale for the supply of high – grade iron ore back in August, H2GS’s CEO Henrik Henriksson said at the time, that the company was in talks with several players re the additional supply from Swedish mines, and that those talks would continue to the end of year or early 2024. That of course doesn’t mean that Kallak is in that CEO’s sights, but any hook up with any party(s) involved in the ‘Green transition’, would be ‘winner’ politics for JIMAB on the Environmental front, and we know JIMAB have delayed permit application for reason(s) that are not clear..imo…atb…….
https://www.reuters.com/markets/commodities/swedens-h2-green-steel-lines-up-vale-rio-tinto-iron-ore-supply-2023-08-09/
Https://www.reuters.com/business/swedens-h2-green-steel-raises-52-bln-new-funding-2024-01-22/
atb
Https://www.steelguru.com/steel/government-backs-h2-green-steel-with-12b-guarantee
Morning.. Only the use of High - grade iron ore makes this all possible in 2024, and in the short at least.. The big money with many, is heading for the Green transition in this industry! Any iron ore from the Kallaks may not go to Boden, but that is not of any concern to the wider $$, not when, Europe is now planning/building other plants with this type of Green process, and where High - Grade is simply, a must have.. The Green (Big) politics is now with JIMAB – for sure! Any mine at Kallak, would be subjected to very strict Environmental laws to minimise any impact on ‘ALL’ other, as it should… imo.. atb…
Suzy2, yes, let’s call it that!
Interesting comments made by the new chief mining inspector don’t you think - legality and impartiality? Her much input this/next week! atb………..
https://www.sgu.se/en/about-sgu/news-from-sgu/2023/september/new-chief-mining-inspector-appointed/
Evening.. Not sure if we have seen this Geophysical data before? Perhaps we have..
https://www.researchgate.net/figure/Geophysical-data-over-the-Kallak-Parkijaure-Tjarovaratj-and-Akkihaure-The-iron-oxide_fig2_341233506
Anyways, the fourth yellow square coming down from the top square, could be within the Parkijaure permit area? Perhaps not! However, this whole Geo data area shown South of the Kallaks looks full of promise, and would be commercially viable, given that, all other would be in place should Kallak go mining – an important consideration for all in any hardtalk re Kallak;s future at this time, imo.. atb….
Suzy2, yes indeed..
A song is better early in the day than never..
https://www.youtube.com/watch?v=xA142IsjQiE
I know you are a fan of both song and singer, and this live performance is up there with the very best! Singing these lyrics back in 1968 would not be well received by some, and its release was not without some commercial risk to the singer, which tells us Elvis Presley was a good man – for sure! atb……
Https://www.woodmac.com/news/the-edge/changing-steel-market-forcing-iron-ore-supply-adapt/#:~:text=In%20the%20changing%20outlook%20for%20iron%20ore%2C%20the,premium%20for%20these%20products%20over%20the%20long%20term
atb
Yes!
https://www.youtube.com/watch?v=gjYWYJudTPE
Merry Christmas all. atb
Evening.. Suzy2, partner? I’d go with that!.. So, Green Kallak DRI. Super high – grade ore 70+% AND, with low impurities AND, its location to both possible Green processing and the European market couldn’t be better..
The powers claim that we have ten years to save the planet (yes, again), and yet these same are apparently happy for an application process for very clean ore to last for the ten years – and more.. Signatories to the Paris climate accord?
And now, if all goes to plan (RNS’s) we will hit the finish line at around the time of Green steel’s opening? Well, that would not be before time..
Ulla Sandborgh CEO of JIMAB (iron ore), shortly after her arrival is granted five million options for setting up her desk, and then, she doesn’t attend the fastmarkets international iron ore in Stockholm? And weeks later, is toast? What?
KB surprisingly takes off, negotiates twelve million plus options for a rainy day – something the independent consultancy would find very hard to justify in granting, given the then lack of any directional news and the continuous slide in the SP - 2/3P?
All a little unusual don’t we think Suzy2? atb…
Afternoon Suzy2.. Kallak DRI is tops, by any measure.. End users? With some getting cold feet re EV’S over the coming short/medium atleast, vehicle manufacturers will want their vehicles including the internal combustion engine made from high – grade/DRI, just to bump their green gums.. So say, even just 10% of that steel component of the vehicle is made from high grade/DRI, that fact would feature heavily in all sales pitching!!!! The question for you/us is, sale or partner, given “significant optionality” does indeed include Kallak DRI? ANI status for Kallak didn’t offer much in the way of benefit for investors/others, however DRI will, imo…… atb………..
The article is a little dated, however the fundamentals have not changed.
https://www.mckinsey.com/industries/metals-and-mining/our-insights/the-dri-dilemma-could-raw-material-shortages-hinder-the-steel-industrys-green-transition
atb
Kallak’s ‘super’ high – grade Green pecker!
Morning.... IEEFA report from last year (much on offer to read)..
https://ieefa.org/sites/default/files/2022-06/Iron%20Ore%20Quality%20a%20Potential%20Headwind%20to%20Green%20Steelmaking_June%202022.pdf
“Headwind to green steelmaking”.. High grade in the range of 67% - just (3%) of iron ore.. “Such deposits are scarce”.. $$$$$$$$$$...
Sammi appeal? Not a chance of success, not when during a lengthy nine plus years of application process it was the same objectors who demonstrated that they did not always engage with the applicant.. Offers of Compromises throughout the process were made by the applicant..
Environmental permits? Green steel have made all of the winning Green arguments with DRI process, then were granted their permits pronto.. DRI process is not possible without High - grade iron ore, regardless of, from where that high – grade ore comes (Kallak = DRI).. Paris climate accord/ resulting EU policies will take care of Kallak – legally! If they want a green omelette (HSGS), then they have to crack the Kallak (SUPER HIGH – GRADE) egg… “Significant optionality”? atb…..
Morning.. More BS to put the frighteners on – no chance!
In the meantime, its all going to plan at H2GS, now attracting more new investors!
https://www.marketscreener.com/news/latest/Sweden-s-H2-Green-Steel-raises-1-6-billion-for-Boden-plant--44790977/
So then, after near ten years of BS process, we have the worlds first major Green steel – making plant, and the Green super high – grade pellets from nearby Kallak, both now in the birth canal.. funny old world.. atb………..
Afternoon.. That’s £120 Million say.. Really! For lock, stock and two smoking? Shipping iron ore pellets (critical to make Green steel) from Brazil to Europe using the ‘valemax’ vessel? (Huge - 400,000 Tonnes) will cost someone cir $140,000 a day - A DAY - Just to charter.. The good news, Brazil to Europe is, 35 – 40 days at most.. How many shipments would the use of Kallak (superior in every way) cut? Room for improvement here, for all concerned? No mention of how this would help the Planet - this being the whole bldy point of H2GS. Environmental permit application? Just send them the link to H2GS home page and date it…… atb……
Morning.. The visit is good. This talk of possible past fiddle with Vardar is BS, imo – not enough money involved, and too much risk.. Kallak would have been the project to fill ya boots, and with the power of state to cover everyone’s r’s.com. Uni mates? Guilty! Lol..
Anyway, Moving on, Henrik Henriksson, the CEO at H2 Green steel is going to be a huge player in Swedish iron ore/ steel in the coming years, for sure! Scania, (100% owned by Volkswagen, with over $200 Billion of group sales P/A) is just one of the end – users invested in H2GS. Henriksson was CEO at Scania at the time when Scania first invested in H2GS. We learned recently that H2GS will be shipping in iron ore from far away places, supplied by Vale and Rio tinto – interestingly, Scania, both Vale and Rio tinto have been developing autonomous mine trucks, whilst in operations on their mine sites, and they will continue working together to develop fully EV’s too, it is reported.. Point being, Henriksson is a deal – maker, and is very well connected throughout this back – scratching world, and BEM’s new CEO, did speak first, of end – users, and significant optionality.. We will have to see what happens with the clean pit just down the road.. atb……
Morning.. Yes Suzy2, a glass of beer, and culture it is!.........................You may have to lend me a tenner from ya £170k? divi, Coming in from deep – pockets Mercedes % Volkswagen or such like :-).
Back to business Suzy 2.. We know the powers want to deliver the Green transition – as per obligations/objectives re Paris climate accord. We know that mining iron ore is very dirty for us all, and change is happening.. So, with high – grade iron ore needed for Green steel to deliver on change, millions of tonnes of ore will have to be shipped thousands of miles in the coming years.. Having been told that in Sweden, to achieve the goal of extracting and delivering iron ore in a completely climate – neutral process chain, this chain will have to include the ‘transports’! Good!
So then, for every single tonne of high - grade ore that the Kallaks could send to nearby Boden, one less tonne of ore would need to be transported for thousands of miles, all else being equal! No arguments. Transports? Wow! So the question for me is, how will Ed Bowie view all of this, and what arguments will he want to see at the thrust of JIMAB’s permit application, and could Sweden’s international obligations/objectives take some ‘sting’ out of Thor’s far – reaching cobblers, should Bowie take that kind of approach? We don’t know Suzy2… IMO.. atb………
Evening. Taken from the piece by Reuters.
‘H2 Green Steel is also seeking to buy direct reduction pellets - the input material for its steel - from Swedish sources, which would have the advantage of much smaller emissions from transportation.
CEO Henrik Henriksson told Reuters on Wednesday further studies were needed on the Swedish mines' capacity to ship to H2GS' plant. He said the company was in talks with several players including LKAB, which operates a mine nearby in Lulea, and Kaunis Iron.
The discussions would continue until the end of this year or early 2024, Henriksson said.
"We have the ambition to have several partners when it comes to the iron ore supply, both for the product in northern Sweden but also to have possibilities for our projects outside Sweden, also to work with these partners," he said.’
Until the end of this year or early 2024? I make that roughly six months from roughly the close of June..
Just saying.. atb……
Evening. Very good news this, in many respects.
https://www.reuters.com/markets/commodities/swedens-h2-green-steel-lines-up-vale-rio-tinto-iron-ore-supply-2023-08-09/
https://www.riotinto.com/en/news/releases/2023/rio-tinto-and-h2-green-steel-partner-to-accelerate-the-green-steel-transition
https://www.msn.com/en-us/money/markets/rio-tinto-and-vale-sign-iron-ore-supply-deals-with-h2-green-steel/ar-AA1f5r7u
https://www.australianmining.com.au/rio-goes-green-for-steel/
atb……..