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    Home > Inorganic Chemistry Topics > Inorganic Chemistry Project > Canada will invest 133 million U.S. dollars to develop iron ore projects

    Canada will invest 133 million U.S. dollars to develop iron ore projects

    • Last Update: 2022-02-25
    • Source: Internet
    • Author: User
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    Quebec, Canada, will invest US$133 million (C$175 million) in an iron ore project.
    Tata Steel Minerals Canada (TSMC), a subsidiary of the Indian giant Tata Steel, holds the majority of the iron ore project
    ??? This investment will be used to advance the development of this direct shipping iron ore (DSO) project, which is located at the junction of Quebec and Labrador, with deposits across the two provinces
    ??? TSMC said in a statement that these funds include an equity investment of 125 million Canadian dollars through Capital Mining Hydrocarbons Fund and a 50 million Canadian dollar loan through Investissement Quebec (acting as a government agent)
    ??? The transaction comes at a time when China’s steel demand has improved.
    It also comes at a time when Canada follows the example of the British government’s move to save Tata Steel’s business in the port of Talbot.
    Job opportunities
    ??? This investment comes at a time when steel demand in China, the world’s largest consumer of iron ore, has risen.
    This situation has caused the price of this commodity to be much higher than the nearly 37 U.
    dollars touched in December last year.
    Tons of historical lows
    ??? After the Canadian government completes its capital injection into TSMC, Tata Steel’s shareholding ratio is expected to decrease
    However, the two parties did not calculate how many shares they can hold after the transaction is completed
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