Our project, currently in its study phase, envisions the building and operation of a plant to manufacture Direct Reduced Iron briquettes, also known as Hot Briquetted Iron (HBI), in the Bécancour Waterfront Industrial Park (BWIP), with an annual capacity of some 2 million metric tonnes (MT). HBI is an in-demand raw material with significant market opportunity with iron and steel makers in the United States and across the globe, requiring the plant to be run on a 24/7/365 basis.
Société Internationale Métallique (SIM) will leverage 5 key assets:
- A strategic plant siting: Plant to be situated in Bécancour, Quebec, a year-round deep-water port with superior resource access, industrial workforce, and transportation infrastructure with competitive accessibility to markets in North America, Europe, Middle East, Central and South America.
- A cost-stabilized natural gas sourcing: natural gas has the advantage of being a cleaner method of reducing iron than coking coal.
- Technology: With an industry leading manufacturing platform, SIM will use state-of-the-art direct reduction technology to produce premium quality Hot Briquetted Iron (HBI). Best-in-class quality, superior technical and customer services, and a reliable shipping schedule will reinforce competitive positioning in the marketplace.
- The competitive advantage of a superior quality product to take advantage of a substantial market need for HBI: The primary market is iron and steel producers requiring the highest quality metallic who are willing to pay a premium but still seek a competitive price. A positive market opportunity of HBI sales exists due to steady steel demand, a dearth of merchant facilities and the shrinkage of established global capacity due to geopolitical factors.
- Quebec-based added value: The establishment of a secondary transformation HBI plant adds considerable value to the basic iron ore exported so far from Quebec. By exporting HBI, instead of iron ore, the value added remains right here in Quebec. This strategy is in line with the Plan Nord, an economic development strategy to develop the natural resources sector in Quebec’s north (49th parallel and above), and the new Maritime Strategy, a plan to increase the number of jobs linked to the St. Lawrence River.