Century Global Commodities Corporation

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You are here: Home / Corporate / About the Company

About the Company

About the company

Century Global Commodities Corporation (“Century” or the “Company”), is an exploration and development company that trades on the Toronto Stock Exchange as “TSX:CNT”. The Company, headquartered in Hong Kong, was incorporated in Canada and completed the continuation of its jurisdiction of incorporation to the Cayman Islands in 2016. The Company’s office in Toronto operates its mining projects in Canada.

Baowu Steel and Minmetals, two Fortune 500 Chinese State-Owned Enterprises are strategic partners, who hold together close to 30% shareholding in Century.

Century has iron ore mineral resources totalling 8.3 billion tonnes indicated and 11.0 billion tonnes inferred, in multiple deposits across five projects in Québec and Newfoundland and Labrador including the Joyce Lake DSO Iron Ore Project, the Full Moon Taconite Project and the Duncan Lake Magnetite Project.

Additionally, Century has other non-ferrous metals properties under exploration as well as a well-established food distribution business (Century Food) in Hong Kong.

Joyce Lake DSO Iron Ore Project

The Company’s flagship Project, “the Joyce Lake Direct Shipping Iron Ore project” completed an updated feasibility study in December 2022 and continues environmental assessment federally and provincially. The December 2022 feasibility study together with progress on updating the Projects environmental impact study is targeted to advance the Project to be shovel ready within 12 months and after a production decision, reaching full production within a further 18 months.

Joyce Lake’s 2022 NI 43-101 feasibility study technical report contemplates an open pit mine of 2.5 million t/a over a 7-year life-of-mine producing both lump and fines at an average grade of 59.94%.

The initial capital cost of $270.4M and operating costs of $61.32/t FOB the Pointe Noire wharf at Sept-Îles, generates an NPV8% of $184.6M after tax at US$124.95/t 62% Fe iron ore selling price CFR China. For the year-to-date October 2022 the average iron ore selling price, Fe 62% CFR China, was US$123.51/t.

Century management has now placed the Company in a stronger financial position to allow rapid advancement of the Joyce Lake project at the dawn of a potential new iron ore price super-cycle. As previously announced, in the immediate future and while retaining a majority interest, Century intends to spin-out the Joyce Lake project to facilitate the next phases of development financing.

Century’s other major iron ore projects include, Full Moon and Duncan Lake projects which have completed Preliminary Economic Assessments while Hayot Lake and Black Bird projects have completed NI 43-101 mineral resource estimates.

CONTACT US

200 University Avenue, Suite 1401
Toronto, Ontario, Canada, M5H 3C6
Tel: 1-416-977-3188
Fax: 1-416-977-8002
Email: contact@centuryglobal.ca

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