Strategic Resources

What Strategic Resources does

Strategic Resources Inc. (TSX.V: SR; FRA: UI8N) is a Canadian publicly traded critical mineral development company headquartered in Montreal, Quebec. The company's flagship asset is the fully permitted BlackRock Project in Quebec, comprising a vanadium-titanium-magnetite mine and concentrator near Chibougamau, plus a planned metallurgical facility at the deep-sea Port Saguenay. A secondary asset, the Mustavaara Project in Finland (acquired 2020), is a past-producing vanadium-iron-titanium mine. Following the March 2023 reverse takeover of BlackRock Metals, ownership is concentrated with Investissement Québec and Orion Mine Finance, each holding approximately 40.81% of the 59 million shares outstanding. The company's core product strategy centers on direct reduction grade iron ore pellets (planned 4 million tonnes per year at Port Saguenay), high-purity pig iron (96% Fe), ferrovanadium (FeV80), and titanium slag — all inputs for green steel and battery/energy storage supply chains. Phase 1 iron pellet plant economics show a US$470M initial capex, US$173M projected annual EBITDA at base case pricing, and a 25% after-tax IRR; the full BlackRock Project carries a C$1.9B after-tax NPV (8%) with a 39-year mine life.

The company's go-to-market is built on long-term offtake agreements with major commodity trading firms — most notably a 10-year exclusive agency arrangement with Javelin Global Commodities covering the supply of approximately 4 million tonnes per year of DR-grade iron ore concentrate and the sale of up to 4 million tonnes per year of DR-grade iron pellets, supplemented by a US$150M secured working capital facility. Pricing is market-based against the Iron Ore CFR China 62% benchmark plus a DR grade premium (base case US$70/dmt). Target customer segments are North American and European steel manufacturers transitioning from blast furnaces to electric arc furnaces and direct reduction processes, plus downstream vanadium battery and high-tensile steel end-users. The technology stack pairs Metso pelletizing equipment with a hydrogen-ready Tenova HYL Energiron direct reduction furnace, Cipher Neutron AEM electrolyzers for green hydrogen production, and Levidian LOOP methane-to-hydrogen-and-graphene decarbonization technology. To date the company is pre-revenue; it is actively engaged in structuring a US$300M senior debt package with Société Générale and has broadened European investor access through its 2026 Frankfurt Stock Exchange listing.

Name

Strategic Resources

Legal name

Strategic Resources Inc.

Website

https://strategic-res.com

Company type

Public

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Strategic Resources is a Canadian publicly traded critical mineral developer advancing the fully permitted BlackRock Project in Quebec — producing direct reduction grade iron ore pellets, high-purity pig iron, ferrovanadium, and titanium slag — to serve North American and European green steel and battery supply chains.

Ownership category

akta.pro rank

Product category

Critical Minerals Mining

NAICS

Iron Ore Mining (212210), Iron Ore Mining (21221), Iron and Steel Mills and Ferroalloy Manufacturing (33111)

SIC

Metal Mining (1000), Primary Smelting & Refining Of Nonferrous Metals (3330)

akta.pro primary industry

Iron Ore Pelletizing & Agglomeration (Pellets, Sinter Feed, Lump) (IMAKAAAE)

akta.pro secondary industries

Iron Ore Beneficiation & Concentration (Crushing, Screening, Washing, Magnetic Separation) (IMAKAAAD), Battery-Grade Chemical Processing (LiOH/Li2CO3, Ni/Co Sulfates, Mn Sulfate) (IMAKAFAI), Exploration & Resource Development (Critical Minerals) (IMAKAFAL), Ferrous Metals Trading & Distribution (Iron Ore, Pig Iron, DRI/HBI, Ferroalloys) (IMAKAJAA)

Keywords

• Iron ore pellet production
• Critical minerals mining
• Vanadium extraction
• High-purity pig iron
• Green steel supply

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Iron Ore Pellet Sales: Revenue from the sale of direct reduction grade iron ore pellets produced at the Port Saguenay pellet plant. The company has signed 10-year offtake agreements with Javelin Global Commodities for the sale of up to 4 million tonnes per year of DR grade pellets.
2. High Purity Pig Iron Sales (Future): Revenue from sale of high purity pig iron produced from vanadium-titanium-magnetite concentrate at the BlackRock metallurgical facility, expected to produce approximately 526 kt per year.
3. Ferrovanadium Sales (Future): Revenue from sale of ferrovanadium (FeV80) produced as a by-product, approximately 4.4 kt per year at the BlackRock Project.
4. Titanium Slag Sales (Future): Revenue from sale of titanium slag produced at the BlackRock metallurgical facility, approximately 118 kt per year.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Strategic Resources is developing the BlackRock Project in Quebec, a fully permitted mine, concentrator, and metallurgical facility producing direct reduction (DR) grade iron ore pellets (4 Mt/yr planned at Port Saguenay), high-purity pig iron (96% Fe, ~526 kt/yr), ferrovanadium FeV80 (~4.4 kt/yr), and titanium slag (~118 kt/yr). It also owns the Mustavaara vanadium-iron-titanium project in Finland. Products are sold through long-term offtake agreements to steel producers and battery/energy storage customers for use in green steel and vanadium redox flow battery applications.

Product overview

Strategic Resources is a critical mineral development company operating two major mining projects in Tier 1 jurisdictions: the BlackRock Project in Quebec (fully permitted mine, concentrator, and metallurgical facility) and the Mustavaara Project in Finland (previously producing mine and concentrator). The company's product portfolio centers on critical minerals for the green steel and battery industries, including direct reduction grade iron ore pellets (from the Port Saguenay pellet plant, Phase 1 of BlackRock at 4 million tonnes per year), high-purity pig iron (96% Fe), ferrovanadium (FeV80), and titanium slag. The company also has strategic initiatives including a vanadium-to-battery pathway partnership with TYFAST Energy for heavy-duty electrification applications. Strategic Resources does not offer software products or developer APIs; its offerings are physical mineral products and processing capabilities.

Differentiator

Problem solved

Functional benefit

Products and services

• BlackRock Project Flagship fully-permitted critical mineral project in Quebec comprising a mine, concentrator, and metallurgical facility producing vanadium-titanium-magnetite concentrate, direct reduction grade iron pellets, high-purity pig iron, ferrovanadium, and titanium slag. 39-year mine life with 127.8 Mt proven and probable reserves.
• Port Saguenay Iron Ore Pellet Plant Planned 4-million-tonne-per-year iron ore pellet plant at Port Saguenay, Quebec, producing direct reduction grade pellets for the green steel industry. Phase 1 of the BlackRock Project metallurgical development, powered by hydroelectric energy with US$470 million initial capital cost and 25-month construction timeline.
• Mustavaara Project Past-producing vanadium-iron-titanium mine and concentrator in Finland. Strategic acquired the mine in 2020 and completed a Preliminary Economic Assessment in 2021. The project contemplates production of pig iron and ferrovanadium and is part of the EU AVANTIS study on vanadium and titanium.
• High-Purity Pig Iron High-purity metallic iron (96% Fe) produced at the BlackRock metallurgical facility for use in decarbonizing foundry and steel production in North America and Europe. Planned production of approximately 526 kt per year.
• Ferrovanadium (FeV80) Vanadium alloy product (FeV80) for high-tensile steel production and vanadium redox flow batteries. Produced from vanadium-titanium-magnetite concentrate at the BlackRock and Mustavaara projects, approximately 4.4 kt per year.
• Titanium Slag Titanium dioxide slag by-product from the metallurgical processing of vanadium-titanium-magnetite concentrate, used in industrial applications. Planned production of approximately 118 kt per year at the BlackRock Project.

Quantifiable outcome

• 25% after-tax IRR for iron ore pellet plant at base case pricing
• +5 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Eleven partnerships are on record, tiered core, minor and strategic.

• Tyfast Energy Corp.coreStrategic or Co-development Partner · 27 April 2026MOU signed to develop a Canadian vanadium-to-battery pathway for heavy-duty electrification applications. Strategic will evaluate feedstock and processing pathways from its vanadium assets in Canada while Tyfast leads material qualification, anode development, and application testing for heavy-duty mining equipment, defense platforms, and off-road vehicles. Collaboration aims to establish a made-in-Canada pathway from critical minerals to advanced battery materials.
• Red Cloud Financial ServicesminorGTM or Marketing Partner · 6 November 2025Engaged for promotional services across Canada. Initial three-month term for C$30,000 fee with transition to month-to-month basis. Marketing agreement was subsequently terminated in November 2025 per AGM documents.
• Javelin Global CommoditiescoreChannel Partner/ Reseller/ Distributor · 25 November 2024Strategic signed definitive agency agreements with Javelin Global Commodities for the procurement of approximately 4 million tonnes of direct reduction grade iron ore concentrate annually and the sale of up to 4 million tonnes of DR grade iron pellets from the planned pelletizer facility at Port Saguenay. Javelin also provides a secured working capital facility up to US$150 million. The ten-year contract includes termination rights after seven years from production commencement. Javelin is paid a percentage fee on total concentrate cost and percentage fee of pellet sales revenue.
• BBA Inc.strategicImplementation/ SI/ Consulting Partner · 12 March 2024Engineering consulting firm conducted the Pre-feasibility Class 5 level engineering study for the 4 million tonne per annum merchant pelletizer project at Port Saguenay. BBA is a privately-owned Canadian consulting firm with over 40 years of experience, including work for ArcelorMittal, Champion Iron, and the Iron Ore Company of Canada (IOC/Rio Tinto).
• LevidianstrategicTechnology or Integration · 6 February 2024Collaboration agreement to study supplying the BlackRock Project's metallurgical facility with Levidian's patented LOOP decarbonization technology. The LOOP system captures carbon from methane to produce hydrogen and graphene as a by-product. Strategic can utilize hydrogen to reduce GHG emissions for the planned 4 million tonne iron ore pellet operation as the first phase of the BlackRock Project.
• European Union (AVANTIS Project)strategicStrategic or Co-development Partner · 1 February 2024Mustavaara Project in Finland selected to be part of AVANTIS, a 5 million euro EU-funded study on vanadium and titanium. Study will evaluate new extraction methods to produce ilmenite-rich titanium-pre-concentrate and ilmenite-free vanadium-pre-concentrate. EU currently imports 100% of titanium metal and vanadium with majority from China and Russia.
• Metso OutoteccoreTechnology or Integration · 20 November 2023Preferred original equipment manufacturer for the pelletizing plant. Metso provided indicative EPC cost estimate for the larger pelletizer unit. Metso will conduct test work and optimize the pellet plant design using iron ore concentrate samples from selected feed sources.
• Cipher Neutron Inc.strategicTechnology or Integration · 16 August 2023Collaboration agreement to study supplying the BlackRock Project's metallurgical facility with Anion Exchange Membrane (AEM) Electrolysers manufactured by Cipher Neutron. Designed to produce Green Hydrogen to support transition to Green Steel. Initial implementation could involve approximately 84 units of 250-Kilowatt AEM Green Hydrogen Electrolysers to produce approximately 10 tonnes of Green Hydrogen gas per day.
• First Globe Capital International Inc.minorGTM or Marketing Partner · 8 August 2023Vancouver-based marketing and advisory services provider owned by Anish Sunderji. Engaged for 12-month period with compensation including 100,000 stock options exercisable at $1.45 per share vesting over two years, plus advisory fees and expense reimbursement.
• Simon WandkestrategicOthers · 15 June 2023Retained as Senior Advisor to provide guidance on strategic direction for future expansion of the BlackRock Project. Previously Executive Vice President and CEO of ArcelorMittal Mining with over 40 years of experience in mining and minerals industry. Advising on development, commercial strategies, and ESG.
• Red Cloud Securities Inc.minorGTM or Marketing Partner · 1 May 2023Engaged as market maker in compliance with TSX Venture Exchange policies. Receives C$5,000 per month fee for initial three-month term with renewal option.

Scale indicators16 records

Recent moves8 records

Expansion highlights7 records

Market position

Strengths5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/StrategicRes
• LinkedInlinkedin.com/company/19209196

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries1 record

Funding overview

Funding rounds5 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Strategic Resources