Cliffs confident in Black Thor viability

Mar 05, 2013 | 12:15 PM | Daniel Fitzgerald

Tags  Cliffs Natural Resources, Black Thor project, ferrochrome, Bill Boor, Prospectors and Developers Association of Canada, PDAC, Daniel Fitzgerald

TORONTO — Cliffs Natural Resources Inc. believes its delayed Black Thor chromite project should still yield pricing viability in the long term despite recent drops in ferrochrome prices.

"Pricing should be pretty strong over the next decade or so," Bill Boor, Cliffs’ senior vice president for global ferroalloys, told AMM at the Prospectors and Developers Association of Canada (PDAC) convention in Toronto.

"From a demand perspective, the stainless steel markets, which drive ferrochrome, lag the carbon steel markets, so we have a good outlook for growth in stainless demand in all the typical places, like China," he said. "On the supply side, it’s very much a story of the cost curve, and with what’s going on in South Africa and other places with costs going up due to overcapacity, we’re expecting the cost curve to shift up dramatically." ....

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