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KWG lining up Ring of Fire strategic partner

KWG Resources revealed it has two offers on the table for offtake agreements to advance its Ring of Fire chromite project.
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KWG Resources revealed it has two offers on the table for offtake agreements to advance its Ring of Fire chromite project.

The Toronto-based junior miner made headlines last week when it announced it was engaged in discussions with Cliffs Natural Resources, and was arranging the necessary financing, to acquire the Ohio mining giant’s chromite properties in the James Bay region.

New management at Cliffs want to rid the company of all money-losing, non-core international assets. KWG has two chromite properties in its stable: the Black Horse and the Big Daddy, the latter with which it holds a 30 per cent stake in a litigious relationship with Cliffs.

One offer that’s come KWG’s way is from an undisclosed international steel maker with project engineering, construction expertise, and marketing ability that, if accepted, would have KWG consider building a facility to make stainless billets for export to the global stainless steel makers.

The second proposal comes from an unnamed ferrochrome producer which has proposed a strategic marketing alliance for the global chromite market.

KWG is working with XPS Consulting and Testwork Services of Sudbury in conducting metallurgical tests on a patented process to refine chromite using natural gas.




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