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Northern Iron Corp Signs Co-operation Agreement with Danieli Centro Metallics; a World Leader in Steel and HBI/DRI Plant Equipment Manufacturing
(via Thenewswire.ca) - Danieli to be Northern Iron's technology partner and exclusive ...
About this update from Ares Strategic Mining Inc
[{"type":"text","content":"Northern Iron Corp Signs Co-operation Agreement with Danieli Centro Metallics; a World Leader in Steel and HBI/DRI Plant Equipment Manufacturing(via Thenewswire.ca)\n\n \n\n\n- Danieli to be Northern Iron's technology partner and exclusive engineering and procurement supplier;\n\n\n\n- Danieli and Northern Iron to promote the Griffith project to strategic partners, financiers and final product off-takers;\n\n\n\n- Agreement includes 500,000 tonne per annum \"take or pay\" off-take agreement;\n\n\n\n\n \nVancouver, British Columbia, Canada / TNW-ACCESSWIRE / May 7, 2014 / Northern Iron Corp. (\"Northern\" or the \"Company\") (TSX-V: NFE) (FRANKFURT: N8I) today announced the signing of a co-operation agreement with DANIELI & C. Officine Meccaniche S.p.A. of Buttrio (Udine), Italy (\"Danieli\"). \n\n \n \nUnder the cooperation agreement Northern and Danieli agree to co-operate on re-developing the past producing Griffith Iron Ore Mine. Although no feasibility study has been completed, the scope of the agreement contemplates the installation of a fully integrated operation to produce Hot Briquetted Iron (HBI) comprising a concentration plant, pelletizing plant, an Energiron direct reduction plant, briquetting plant and related auxiliary systems. \n\n\n \nDANIELI will be Northern's technological partner for marketing and promoting the Project to possible strategic partners, financiers and final product off-takers that can provide the necessary funding to cover the expenses up to and including a bankable feasibility study (\"BFS\") for the Griffith and Karas projects. In addition, Danieli will provide technical data and support for the completion of the BFS. \n\n \n \nBasil Botha, President and CEO of Northern said; \"By completing this agreement we have aligned ourselves with one of the world's leading direct reduction technology providers and plant equipment suppliers to the steel industry. Danieli's \"take or pay\" off-take commitment is a huge vote of confidence in the quality of product that was produced historically prior to mine closure in 1986. Overall, the agreement with Danieli is a strong commitment that they believe in the potential of the past producing Griffith mine.\"\n\n\n \n\"Moreover, Danieli has undertaken to introduce Northern to their client base of steel mills around the world who are already investigating DR...