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TLO 5.37 +5.7% BNKR 4.88 +1.7% GG 2.25 +3.2% MJS 0.100 +5.3% PAAS 62.54 +3.6% PE 0.230 +0.0% SGML 17.19 +4.8% LAR 10.34 −1.1% NED 0.025 +0.0% GEN 0.080 +0.0% TVI 0.060 +0.0% SKYG 0.025 −37.5% WRLG 0.660 +6.5% FFU 0.120 −7.7% LOD 0.310 +3.3% CBI 0.110 +0.0% TLO 5.37 +5.7% BNKR 4.88 +1.7% GG 2.25 +3.2% MJS 0.100 +5.3% PAAS 62.54 +3.6% PE 0.230 +0.0% SGML 17.19 +4.8% LAR 10.34 −1.1% NED 0.025 +0.0% GEN 0.080 +0.0% TVI 0.060 +0.0% SKYG 0.025 −37.5% WRLG 0.660 +6.5% FFU 0.120 −7.7% LOD 0.310 +3.3% CBI 0.110 +0.0%
M&A / Property Routine +

Strategic Resources Inc. to supply concentrate to the euros17 million FutSteel project in Finland

By The Northwire Desk — AI Analysis Jun 29, 2026 · 16:30 SR · 0.26 Strategic Resources Inc.
Executive Summary

Strategic Resources Inc. (SR) announced on June 29, 2026, that its vanadium-rich magnetite (VTM) concentrate from the Mustavaara project in Finland has been selected for the €17 million FutSteel research project. Led by the University of Oulu with industrial partners including SSAB, the initiative focuses on low-carbon, hydrogen-based steelmaking and direct reduction (DRI) processes. The selection validates the quality of Mustavaara material for next-generation fossil-free steel production, a significance highlighted by CEO Sean Cleary regarding the asset’s role in the clean steel supply chain.

In related developments, the company has been advancing the BlackRock pellet plant permitting in Quebec, with a submission made on May 26. On April 27, Strategic Resources signed an MOU with Tyfast Energy for battery-grade vanadium. The company also listed on the Frankfurt Stock Exchange on April 8 and amended a $10M private placement to raise capital for pellet plant development, with activity noted on April 30 and March 23.

Material Impact

Strategic Resources Inc. (SR) announced that FutSteel has selected its Mustavaara asset for green steel applications, a move that validates the quality of the deposit for such uses and aligns with the company’s narrative of supplying critical minerals for the energy transition. However, the arrangement is a research partnership rather than a commercial off-take agreement or revenue-generating contract. Consequently, the news does not materially change the company's immediate financial outlook, which remains heavily dependent on closing the $10M private placement and securing project financing for the BlackRock pellet plant.

SR · Price
Company Overview

Strategic Resources Inc. (SR) is a pre-revenue junior developing the BlackRock VTM project in Québec and the Mustavaara project in Finland. The company’s flagship asset is the BlackRock Project in Quebec, which focuses on a 4 Mtpa iron ore pellet plant at Port Saguenay. BlackRock features a fully permitted mine and metallurgical facility, with a Class 5 PFS completed.

Mustavaara in Finland is a past-producing VTM asset with significant resources, currently advancing exploration permits. The company targets the growing demand for low-carbon iron metallics and vanadium for steel and battery applications.

Read the original news release →

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