GREY:CPMNF - Post by User
Comment by
greenandgoldon Oct 16, 2011 11:02am
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Post# 19153670
RE: Manganese
RE: ManganeseADV's concentrate will have manganese in the 0.75% to 0.9% range. The Chinese steelmakers, the target market, don't care. They buy concentrate/pellets with up to 4% manganese from Wabush Mines. At least a dozen Asian steelmakers have done data room and on-site due diligence at Kami recently. When the offtake deal closes then you'll see what a non-issue manganese is for the Chinese steelmakers.
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I suppose Champion is holding off on signing an Asian offtake deal to keep the possibility of an Arcelor takeover alive? If Arcelor buys Champion it would definitely want 100% of the offtake for their European operations. Does Fancamp's 15% stake have to be consolidated before a takeover by Arcelor (or even Cliffs, the other major in the area)?