There already is a steel mill in Manzanillo owned by Arcelor. They have the iron ore needed to sustain the steel mill for the long term. They also have the logistics.
What does Baja have? 1)A crappy port that uses large dust pans to load and unload iron ore 2) Where is the electricity coming from? And I mean a lot of it to sustain a steel mill. Baja is pretty isolated 3) Are you sure there is enough iron ore? 4) Where is the coal coming from? 5) Skilled labor? Are you going to hire fisherman? 6) A pellet plant will cost...about a billion dollars with no indication there is enough iron ore. 7) Who will buy the pellets? Not many steel mills on the west coast of North America.
If you want steel, just buy from Arcelor in Manzanillo or import it from China...it will be cheaper
Why Bao may still be a player longer term. They are well aware of the legal messes per Yonghong. They also had a bust with Brazil as I recall. Baja is a bit closer, no? Be well my friend! JMO. $CWRN
News 
Market Data 
Discover 
