Client CJust a thought on who Client C is.
As a backgrounder, in a July 2 NR, PYR announced that "a new potential client (“Client C”), who is not only a significant player in the iron ore pelletization industry but is also a major player in the steel industry, has entered into active equipment purchase discussions with the Company."
Since the client as described is both a major pelletizaiton company, AND a major player in the steel industry, there's been a lot of talk that it could be Vale.
Two additional candidates to consider:
1. Cleveland Cliffs. CC has long been the largest iron ore company in the USA, creating more than 40% of US capacity. But in 2019, they also became a steel making company, after buying AK Steel Holding. And just two weeks ago, Cleveland Cliffs acquired the United States steel mill interests of global titan ArcelorMittal, in a cash and stock deal that will create the largest flat-folled integrated steel producer in the US -- and putting Cleveland Cliffs neck and neck with Sweden's LKAB (another candidate for PYR client C) as the second largest pellet producer in the world, behind Vale.
They've also been amping up their emissions reduction as of late, with one specifi note to "...
continue to research and develop new indurating furnace burner technologies..." https://www.clevelandcliffs.com/corporate-responsibility/environmental-stewardship/producing-environmentally-friendly-iron-ore-pellets/reducing-regional-haze-emissions/default.aspx 2/ ArcelorMittal. As noted above, they recently sold their US holdings to CC. But, they remain the largest steel company in the world. And, they have mines and export operations in Canada in.... Quebec, including an office in Montreal, home of PYR.
Finally, and this is interesting... just
today they announced their green steel strategy, with "a commitment to green steel making using hydrogen". Just so happens that PYR torches can use alot of gasses, including a mix of argon and hydrogen.
https://corporate.arcelormittal.com/media/news-articles/arcelormittal-europe-to-produce-green-steel-starting-in-2020# Specifically, "The strategy is centred around two main technology routes…the use of hydrogen in DRI-EAF and also the blast furnace; and the expansion of the Smart Carbon route, also utilising hydrogen, it said".
Finally, ArcelorMittal has previous experience using plasma. In 2018 they worked with Europlasma to do trials on how to reduce emissions from furnaces by using plasma, not for heating, but to "generate clean and directly recoverable synthesis gas" that can be reinjected back into the furnace.
https://www.bwmonline.com/2018/02/26/europlasma-commits-alongside-arcelor-mittal-to-reducing-the-carbon-footprint-of-the-steel-industry/ Food for thought, anyway.