Sandy Chim, CEO of Century Global Corporation talks about a developing Iron Ore Project in Joyce Lake.
Our focus is developing our Iron Ore Project portfolio, some 20 billion tons of resources. Our flagship project is Joyce Lake a low capital intensity, high grade, located at Eastern Canada. Our project has already a bankable feasibility study complete. We have also done and completed the environmental impact study we’re permitting ready.
We’re 90 company focused on the China market which what China is around 70 percent of the total seaborne market so China today for some time to come will still be the biggest consumer of iron ore project.
And one very encouraging effective for the international iron ore producers is the fact that China imports now roughly above 90 percent of its iron ore requirement from overseas.
We hope to achieve developing Joyce Lake because this has got $140 million NPV value. Based on assumption of roughly $95 U.S. iron ore price where we’re at today. So we can actually and when we develop this project and realize that value for our shareholders.
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