Tuesday, 21 February 2017
Second Round of CEIP Debt Financing Discussions being held in Beijing this week
There is growing support for our CEIP project to supply high-quality, lower-emission ore to Chinese steel mills facing stricter environmental rules as the attached article in today’s China Daily suggests:
With reports that China plans to invest 2.5 trillion yuan ($365 billion) in renewable energy through 2020 to reduce greenhouse gases and is seeking to curb emissions by iron and steel producers, there is clearly a need for the CEIP’s product.
Mills are being compelled to upgrade their plants or cease operations if they fall short of standards, according to Bloomberg Intelligence.
Managing Director Andrew Stocks said that the policy moves in China support the CEIP’S high grade iron road product and the Company will be meeting with financiers in Shanghai and Beijing over the coming months.
“The consistent high quality nature of our product will deliver significant and compelling advantages as we seek to meet the growing high end supply gap in the iron ore market.
I very much look forward to building a Project that will become a trusted and reliable supplier of premium iron concentrates to the Asian marketplace.”
Read the full China Daily story here