- 2 months ago
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CreativityTranscript
00:00Transcription by CastingWords
00:30Stainless steel, a material most of us take for granted.
00:39Because of this extraordinary metal, we have buildings, refineries, infrastructure, and sophisticated medical instruments.
00:49But what gives stainless steel its impressive heat and corrosion-resistant properties and glossy appearance?
00:55A unique mineral called chromite.
01:00Chromite can only be added to the steel-making process after it is combined with a fluxing agent and carbon reductant to create an alloy known as ferrochrome.
01:11Currently, most chromite products needed to supply worldwide stainless steel demand are produced in Kazakhstan, South Africa, and India.
01:19Countries with abundant chromite deposits.
01:26China has significant ferrochrome furnace capacity, but lacks the quality chromite material to supply all its needs.
01:33Because there are no economically viable chromite deposits, stainless steel makers in North America must import most chromite products from South Africa.
01:45But this makes transportation costly and leaves producers exposed to social and economic uncertainties.
01:53Cliffs Natural Resources, an international mining and natural resources company, expects to change this geographic imbalance by producing an anticipated 600,000 tons of ferrochrome and 1 million tons of chromite concentrate starting in 2015.
02:10Cliffs control three world-class chromite deposits in an area known as the Ring of Fire in northern Ontario, Canada.
02:25With geology similar to the mineral-rich Bushveld region in South Africa, this newly explored area is potentially home to many minerals, including platinum group metals, copper, and nickel.
02:43To date, Cliffs' chromite deposits are the area's first discovered Tier 1 assets.
02:50The deposits are extensive, thick, and of high quality.
02:54They also have the potential to support production in excess of 80 years.
03:04The company anticipates mining its Blackthor deposit first because of its ability to be mined via open pit.
03:13The deposit is generally located near surface, making initial open pit extraction easier and likely more cost-effective.
03:34Cliffs expects to build a near-mine beneficiary plant to process the crude ore in the concentrate.
03:45With decades of experience in iron ore mining and beneficiating, Cliffs plans to process chromite ore using similar methods.
03:54Here's a quick look at the beneficiating process.
04:07Crude ore is trucked from the pit for crushing and screening and then conveyed to the plant.
04:11Once reduced in size, lump ore is separated from fines using heavy media separation.
04:30The fines are then sent through a series of cyclone and spiral separation equipment.
04:36Here, gravity helps separate chromite from waste material.
04:39These chromite products can now be processed into ferrochrome or direct shipped to other ferrochrome producers.
04:48Transportation to move product to market could include an all-weather road or a railroad.
04:54Routes to the west or directly south are under review.
04:57Each option would connect up with existing rail transportation.
05:00Using this network, chromite concentrate could be shipped west to Prince Rupert, British Columbia and on to Asia to ferrochrome producers there.
05:10To create ferrochrome, Cliffs expects to construct an enclosed electric arc furnace facility near a city or town with grid power and established trucking and shipping routes.
05:20A location near the Great Lakes could be ideal.
05:25An enclosed arc furnace offers key advantages over other processing methods.
05:31Electrical energy is used to reduce the metal in a controlled, measured and precise manner.
05:36Ultimately, Cliffs anticipates producing 1 million tons of chromite concentrate and 600,000 tons of ferrochrome annually for Asian, North American and European steel markets,
05:51positioning the company as a major international producer.
05:55While feasibility is ongoing and regulatory approvals are required before development and mining begin,
06:03production is anticipated to start in 2015
06:07and grow to be the Cliffs' expanding portfolio of steel-making raw materials.
06:16Key elements are in place.
06:18World-class deposits amenable to open-pit mining
06:21with access to grid power and transportation.
06:26Located in Canada, a triple-A rated country with low investment risk and sound infrastructure,
06:33elements expected to position Cliffs in the lowest half of the cost curve.
06:40Stainless steel demand has increased worldwide in recent years,
06:44with ferrochrome pricing rising since 2005 and reaching well over $1 per pound.
06:49Low-cost production in a favorable pricing environment is expected to result in a long-term,
06:56significant revenue-generating business for Cliffs.
06:59With a legacy tracing back to 1847 and an aggressive growth strategy since 2005,
07:06Cliffs' natural resources is positioned to capture new markets.
07:10It serves customers around the globe with high-quality steel-making materials.
07:17Sustainable development, including environmental responsibility, is a core value.
07:22Cliffs is committed to earning its social license to mine and operate.
07:27Reclamation plans are built into every project
07:29and can be seen firsthand at wetland reserves on former mine sites,
07:33such as the Republic Wetlands and Miller Creek Reserves.
07:36Discussions with governments, First Nations groups, and other key stakeholders
07:44are critical to success of the project.
07:48Cliffs' natural resources, leveraging world-class assets,
07:53over 150 years of technical experience,
07:56and opportunistic supply-demand fundamentals
08:00to uncover value beneath the surface.
08:03Cliffs' natural resources,писys and
08:15internationals, Tapes.com.
08:15I hope for our guidance, before we leave.
08:16We'll hold it, first of all.
08:16I hope for you, MitraMirah.
08:17You can support it, first of all.
08:17Please.
08:18We'll take it for you, MitraMirah.
08:22We'll do more.
08:23I hope for you, MitraMirah.
08:24We'll do more.
08:25We'll do more.
08:26We'll do more.
08:27Bye.
08:28Bye.
08:29Bye.
08:30Bye.
08:30Bye.
08:31Bye.
08:31Bye.
08:32Bye.
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