Metalo Manufacturing Inc. (MMI) is the largest shareholder in two advanced development assets that have placed global Environmental, Social, and Corporate Governance (ESG), and carbon reduction opportunities at the forefront of their business model. MMI is dedicated to the integration of Canadian minerals and value-add through low, to zero, emissions with both of its assets.
Collectively, more than $50 million has been invested in assessing and defining market solutions. One asset has a Bankable Feasibility Study and the other a Preliminary Economic Assessment. Both projects are poised to initiate permitting requirements this year.
One asset is a proposed iron/steel making smelter that will produce the lowest CO2 emissions per tonne of metal globally. The other asset is a mineral sands project focused on near zero emissions from mine to port, including a range of downstream products with clean hydroelectricity or hydrogen as the energy source.
The metal will be a premium product in the value chain for “mission critical-fail safe” precision components for aerospace, defense, wind energy, automotive and medical devices. The model for high purity metal with clean and low-cost hydroelectricity is further enhanced through shipping the iron ore in and metal out via water. This is less CO2 and cost intensive per tonne than road or rail. The near zero CO2 emissions will create a significant new revenue stream by allowing the Company to market their carbon credits.
The mineral sands will deliver high purity inputs for a wide range of products required daily: glass making (automotive, construction, etc.); ceramics; materials for metal makers, etc. The silica quartz is high purity (SiO2 99.3% and low iron), along with feldspars comprising 52% of the head feed (ceramics and glass making), and garnets (used as a premium abrasive). The grade of the silica sands is one of only a few in North America.
MMI’s holding in the two projects is through Grand River Ironsands Incorporated (privately held), where MMI controls 44% of the shares.