Iran Conflict Underscores Need to Build Iron Ore Pellet Plant Capacity in North America
Iran Conflict Underscores Need to Build Iron Ore Pellet Plant
Capacity in North America
MONTREAL
,
March 12, 2026
/CNW/ -
Strategic Resources Inc.
(TSXV: SR) ("Strategic" or the "Company") today commented on the impact of
the current conflict in Iran and the Persian Gulf on global iron ore pellet markets and the immediate need to accelerate development of pellet
capacity in North America.
The Middle East, and particularly the broader Gulf region, has emerged as a strategically important hub for iron ore pellet production and export
over the past decade, supplying a meaningful share of global seaborne pellet trade to DRI and steel producers in Europe, the Middle East and
Asia. Disruptions to shipping routes and energy markets in the region are tightening already constrained pellet and high
grade iron ore balance and
introducing new volatility for steelmakers advancing decarbonization strategies.
"The conflict in the Gulf is a clear reminder that concentrating a large portion of the world's iron ore pellet supply in one geopolitically sensitive
region creates real risk for steel producers and their customers," said Sean Cleary, Chief Executive Officer of Strategic Resources. "If we want
reliable access to high
quality pellets to support low
carbon steelmaking, we need to build more capacity in stable, resource
rich jurisdictions like
Canada and the rest of North America."
Strategic Resources Port of Saguenay iron ore pellet project, commonly known as the BlackRock Project, represents the most advanced,
lowest
carbon, and strategically located new pellet capacity in North America. Phase 1 of the BlackRock Project will deliver 4 million tonnes per
year of high-quality iron ore pellets reshoring critical supply for North American and European steelmakers. Powered by Quebec's hydroelectric
grid and uniquely connected to a competitively priced natural gas pipeline, this investment will directly reduce dependence on vulnerable seaborne
routes, enhance supply-chain resilience, and position North American and European steelmakers to compete in a tightening global market for clean
energy aligned feedstocks.
The BlackRock Project is currently progressing through the provincial environmental authorization amendment process – see the Company's press
release dated February 25, 2026 for more information.
"Our proposed four
million
tonne pellet plant at Port Saguenay is exactly the type of asset the market needs right now," Mr. Cleary added. "It is
designed to provide long
term, reliable pellet supply from a stable jurisdiction, leveraging clean energy and natural gas to support lower
carbon
iron and steel producers in Canada, the United States and Europe. The current situation in the Gulf only strengthens the strategic rationale for
bringing this kind of capacity online."
Strategic Resources believes that building out pellet capacity in Canada and across North America is essential to strengthening supply security,
reducing dependence on geopolitically exposed regions and enabling the steel industry's transition to lower
carbon technologies. The Company is
positioning itself to be a key supplier of iron ore pellets at a time when global demand for clean, reliable, and regionally secure iron units is
accelerating.
About Strategic Resources
Strategic Resources (TSXV:SR) is a critical mineral development company focused on vanadium, high-purity iron and titanium; metals needed to
decarbonize the global economy. Our main projects are the construction-ready BlackRock Project in Quebec and the previously operated
Mustavaara mine in Finland. Phase 1 of the BlackRock Project envisages a 4 million tonne per year high-purity iron ore pelletizer at Port
Saguenay, Quebec with full access to the St. Lawrence Seaway. The Company's Head Office is in Montreal, Québec.
Further details are available on the Company's website at
https://strategic-res.com/
.
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STRATEGIC RESOURCES INC.
Signed:
"Sean Cleary"
Sean Cleary,
CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-
looking information within the meaning of applicable securities laws. Often, but not always, forward-looking statements or information can be
identified by the use of words such as "will" or "projected" or variations of those words or statements that certain actions, events or results "will",
"could", "are proposed to", "are planned to", "are expected to" or "are anticipated to" be taken, occur or be achieved.
Although management of the Company believes that the assumptions made and the expectations represented by all forward-looking statements
or information are reasonable, there can be no assurance that a forward-looking statement or information herein will prove to be accurate.
Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and
other factors which may cause the Company's actual results, performance or achievements, or industry results, to be materially different from
any future results, performance or achievements expressed or implied by such forward-looking statements or information. These factors
include, but are not limited to: risks associated with the business of the Company; business and economic conditions in the mining industry
generally; the supply and demand for labour and other project inputs; changes in commodity prices; changes in interest and currency exchange
rates; risks relating to inaccurate geological and engineering assumptions (including with respect to the tonnage, grade and recoverability of
reserves and resources); risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in
accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the
receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and
environmental matters); risks relating to adverse weather conditions; political risk and social unrest; changes in general economic conditions or
conditions in the financial markets; and other risk factors as detailed from time to time in the Company's continuous disclosure documents filed
with Canadian securities administrators. Strategic does not undertake to update any forward-looking information, except in accordance with
applicable securities laws.
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SOURCE Strategic Resources Inc.
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%SEDAR: 00021914E
For further information:
Alexandre Meterissian, VP ESG & Communications, [email protected]
CO: Strategic Resources Inc.
CNW 07:45e 12-MAR-26