Strategic taps Federal Office for BlackRock project boost

Strategic Resources (TSXV:SR) filed a project intake request with the Canadian federal government's newly established Major Projects Office (MPO). The MPO's mandate focused on advancing major projects in Canada and providing a single point of contact for referred projects. It aimed to resolve policy challenges, structure financing, and reduce risks to maintain project competitiveness from development to operation.

The company's BlackRock project, Canada's only fully permitted vanadium mine, concentrator, and multi-metal metallurgical plant, stood at the center of this development. Strategic Resources positioned itself as a critical mineral development company, aiming to become a supplier of green steel inputs.

Located at a deep seaport in Québec with access to the St. Lawrence Seaway, the fully permitted BlackRock Project's first phase planned a four million ton per year high-purity iron ore pelletizer in Port Saguenay. . The mine and concentrator portion of the project is located about 700 km north of Montreal.

Ottawa deemed the multi-billion-dollar BlackRock project strategically important for securing vanadium and titanium supply chains and enhancing high-purity iron security for Canadian and allied markets. It was the sole permitted project at the federally owned Port of Saguenay, which was undergoing significant federal investments.

Strategic Resources secured a long-term lease at Port Saguenay's new industrial park and signed agreements with First Nations, including the Cree Nation of Québec (Oujé Bougoumou) and Innu Nations of Mashteuiatsh, Essipit, and Pessamit.

The company's initial phase involved installing a high-purity iron pellet plant to process iron ore concentrate from the Labrador Trough, supplying steel manufacturers in Canada, the US, and Europe. These pellets were crucial for clean Electric Arc Furnaces replacing older Blast Furnaces in North America and Europe.

Strategic Resources' management team planned to engage with the MPO in the coming weeks, aiming to be retained as a major project under the office's new mandate.

Further details are available on the company's website at https://strategic-res.com/.