Iron Ore Torch Client is Rio Tinto: A Top 7 Countdown PYR first announced modelling for a major iron ore client in March 4th and April 20 2020 news releases. Since then, clients A, B, and C (at least) have all started negotiating with PYR for modelling and/or actual torches, with the first iron ore torch sale announced in November 2020.
One of those clients -- likely announced torch sale -- is Rio Tinto. Here’s why:
Number 7: They’re a world top five iron ore producer
PYR press releases and interviews have indicated the client company to be “a top five” iron ore company. Rio Tinto is generally listed as #1:
https://www.nsenergybusiness.com/features/top-five-iron-ore-producing-companies-world/
Number 6: they’re heavily investing in carbon reduction
“Rio Tinto today announced plans to invest around $1 billion over the next five years to support the delivery of its new climate change targets“.
https://www.riotinto.com/en/news/releases/2020/Rio-Tinto-to-invest-1-billion-to-help-meet-new-climate-change-targets
Number 5: they have a significant Canadian presence
Rio Tinto has operations in BC, Northwest Territories, Ontario, Quebec, and Labrador.
Most notably, they own The Iron Ore Company of Canada (also known as IOC), a very large iron ore pellet producer, in Labrador City, with a port and stockpile operation in Sept-Iles Quebec. This proximity to PYR in Montreal would certainly increase Rio's awareness of PYR.
Number 4: they are familiar with the power of plasma, in other business lines
RIO has been using plasma technology in their aluminum business for many years.
https://aluminiuminsider.com/rio-tinto-and-scepter-ink-decade-long-extension-of-sustainable-aluminium-partnership/
Number 3: RioTinto has a major research lab in Montreal
Rio operates centres of excellence across the world, one of which, “Rio Tinto Processing Centre of Excellence”, is in Montreal.
From the Montreal Gazette: “Montral is one of its three global hubs, supporting the Americas, Europe and Africa, and is home to Rio Tinto’s Processing Centre of Excellence.”
https://montrealgazette.com/sponsored/top-employers/rio-tinto-offers-opportunity-and-strong-values
Number 2: Rio has formally indicated investigating plasma torches
I found this Rio Tinto doc from April 2020. If you go to numbered page 28 (or overall page 39) you can read the mention of “R&D into... plasma torch”, in blue text on the bottom right of the graphic.
Here’s a screen grab: https://cdn-ceo-ca.s3.amazonaws.com/1g2pa9h-rio.PNG
Full document:
https://otp.investis.com/clients/uk/rio_tinto3/sec/sec-show.aspx?FilingId=14114421&Cik=0000863064&Type=PDF&hasPdf=1
Number 1: RIO is actively “trialing plasma torches”... in Montreal
Here’s direct evidence that Rio has started a trial for plasma torches.
On page 29 of the document below: “...develop low-emission process heat technology including the trialling of plasma torches at our iron ore business in Canada”.
Here’s a screen grab:
https://cdn-ceo-ca.s3.amazonaws.com/1g2pde8-1E89CF83-846B-4401-8A9A-9DFFB10F876D.jpeg
And another from same Rio Tinto doc that specifically says it’s trialling plasma in induration at the Processing Centre of Excellence:
https://cdn-ceo-ca.s3.amazonaws.com/1g2pee8-42096FE2-D39F-4C95-BB74-141A0EE5035E.jpeg
Here’s the full doc:
https://www.riotinto.com/-/media/Content/Documents/Invest/Reports/Climate-Change-reports/RT-climate-report-2020.pdf?rev=1eb25f61de9b44ce87923be8392b2772
Since PYR has the patent for use of plasma torches in iron ore pelletization induration furnaces, Rio Tinto could only be using PYR torches.
Bonus stuff:
Some might have seen recently that PYR hired a person on a post-doctoral fellowship from UofT engineering. One of her big areas of expertise is plasma spray coating.
Well, Rio Tinto is involved in plasma spray coating via their High Purity Alumina products and Alcan.
And a further possible connection to PYR’s new hire? Rio Tinto has sponsored UofT Engineering’s research for several years:
https://www.engineering.utoronto.ca/files/2018/10/Advanced-Manufacturing-Research18.pdf