Pyrogenesis Canada Inc T.PYR

ArcelorMittal Port-Cartier pellet plant carbon taxes

[developbc]

Great post by @cargo This was posted on SH and just wanted to share on here. They seem to think that by using Biofuels is seen a a viable solution to pelletisation process. Yes it can replace bunker fuel and you will see a 23% reduction in CO2 emissions which will get them closer to the 30% reduction in Co2 emissions by 2030.

That is great and all BUT if ArcelorMittal is content with running biofuel till 2030 I can tell you one thing that they will not be happy about paying the carbon taxes which will increase to $170/ton by 2030.

If you do the math that will equate to about even if you included the 23% reduction in emissions they will still be emitting around 173,000T/Y of Co2 emitted into the atmosphere. With the carbon tax increase every year to $170 by 2030 they will have to pay almost $30,000,000 in carbon tax at Port-Cartier pellet plant in 2030. That is a boat load of money. https://www.canadianminingjournal.com/news/arcelormittal-shares-eureka-award-with-bioenergie-ae-cote-nord/

[developbc]

@cargo The same can be said if they choose to go with natural gas route in the pelletisation process it will only reduce a similar percentage of CO2 emission as the Biofuel route. They will still have to pay the carbon taxes on the rest of the emission they release into the atmosphere.