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Northern Iron is a mineral exploration company focused in high quality iron ore in the Red Lake mining division, district of Kenora, Ontario, Canada.
Message: NFE Nominates "Father of Venzuelan Hot Briquetted Iron Industry" to the board
Northern Iron Nominates "Father of Venzuelan Hot Briquetted Iron Industry" to the Board
Alberto Hassan, President of International Iron Metallics Association, nominated for election to the board of directors of Northern Iron Corp. at the Annual General Meeting scheduled for May 29, 2012
VANCOUVER, May 8, 2012 /CNW/ - Northern Iron Corp. ("Northern" or the "Company") (TSX-V: NFE) (OTCQX- NHRIF) (FRANKFURT: N8I) announces the nomination of Alberto Hassan, President of International Iron Metallics Association ("IIMA"), to stand for election to Northern's board of directors (the "Board") at the Annual General Meeting to be held on May 29th, 2012.
Mr. Hassan has 45 years of experience in the steel and automotive industry. Mr. Hassan was instrumental in the development of the Hot Briquetted Iron ("HBI") industry in Venezuela, as well as the FINMET® Process Technology. Among others, he served as the President & CEO of Orinoco Iron, responsible for the largest HBI complex in the world, holding various other positions such as Executive Director of VENPRECAR, Project Director of an HBI and steel mill, General Manager of FIOR de Venezuela, Chairman of the Copal Palua Port and Plant Manager of General Motors de Venezuela. In 1998, Mr. Hassan founded the HBI Association, the international trade association for HBI and served as the Chairman of the Association until the merger with International Pig Iron Association to form IIMA, where he is currently serving as the President.
Mr. Basil Botha, President & CEO stated, "Alberto Hassan is often described as the "father of the Venzuelan HBI industry", however, Alberto's experience goes way beyond that. He has been instrumental in the development of the virgin metallics industry worldwide; he has played a major role in the development of HBI technology by planning, constructing and developing the largest HBI complex in the world. Alberto's expertise as an HBI consultant is sought after by HBI producers around the world. In addition, he is a tireless promoter of HBI worldwide through his role in the IIMA. Alberto's appointment is the next critical step in our commitment to strengthening our Board with experienced and talented directors who have the profile and experience to help us achieve our strategic goals more rapidly. Alberto will play a key role in Northern's planned production of HBI."
In agreeing to be added to the Board, Alberto stated, "Venezuela is no longer the force it was in HBI and there is an opportunity for Canada to step into the void left by Venezuela's stumble. There is a looming shortage of steel scrap, which will mean higher scrap prices and search for alternatives. HBI offers such options to the steel industry, but there is very little merchant HBI available to the industry at present. Unfortunately there are few places in the world where HBI can be made; Northern Iron's Red Lake property appears to be one of the few. It has the necessary gas, power, water, people and transportation infrastructure."
About Northern Iron
Northern Iron is a mineral resource company engaged in reviving a past producing iron mine and concurrent exploration of high quality iron ore resources in the Red Lake mining division, district of Kenora, Ontario, Canada.
Northern Iron holds 100% interest in mineral claims covering approximately 14,672 hectares, comprised of the past producing Griffith Iron Mine, the Karas Property, the El Sol Property, the Papaonga Property and the Whitemud-Slate Property.
The Griffith Mine owned at the time by Stelco, produced 78.8 million tonnes of iron ore for conversion to pellets and DRI from 1968-1989. Total magnetic iron recovery was 86.26%.
The Red Lake area is accessible year round by Highway 105, which joins the Trans Canada highway at Vermillion Bay, 175 km south and 100 km east of Kenora. Commercial air services operate to Red Lake from Thunder Bay, Ontario and Winnipeg, Manitoba
The foregoing information may contain forward-looking statements relating to the future performance of the Company. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved of disapproved the information contained herein.
President & CEO
Northern Iron Corp.
Email: [email protected]
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Source: Canada Newswire (May 8, 2012 - 3:00 AM EDT)
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