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”,  is incorporated in the Cayman Islands and  headquartered in Hong Kong. The Company mining office in Toronto operates its 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 totaling 8.3 billion tonnes indicated and 11.0 billion tonnes inferred, in multiple deposits across five projects in Quebec and Newfoundland and Labrador including Joyce Lake DSO Iron Ore Project, Full Moon Taconite Project and the Duncan Lake project.

Additionally, Century has also developed an operations segment that is “counter cyclic to iron ore”, which is a successful quality food distribution business in Hong Kong.

Joyce Lake DSO Iron Ore Project

The Company’s flagship property, “the Joyce Lake Direct Shipping Ore project” is currently undergoing post feasibility study optimization, to capture additional capital and operating cost reductions. The optimized Joyce Lake feasibility together with an updated environmental impact study is expected to make Joyce Lake shovel ready within 12 months and following a production decision, reaching full production within a further 18 months.

The current 2015  NI 43-101 feasibility study (the “Study”) contemplates an open pit mine of 2.5 million t/a over a 7-year life-of-mine producing both lump and fines at close to  62% Fe  (for the first 5 years) from crushing and screening with no tailings generated.

The capital cost of $259.6M and operating costs of $58.25/t FOB the port at Sept-Iles, generates an NPV8% of $524M after tax at US$142.5/t iron ore selling price, compared to NPV8% of $61.4M after tax at the base case selling price of US$95/t. For the month of January 2021 the average iron ore selling price, Fe 62% CFR China, was US$167.83/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 which have completed Preliminary Economic Assessments while Hayot Lake and Black Bird projects have completed NI43-101 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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