TACORA AT A GLANCE

WHO WE ARE

WHAT WE DO

OUR HISTORY

OUR VISION

OUR VALUES

BOARD OF DIRECTORS

MANAGEMEN

PARTNERS

GOVERNANCE

OUR

COMPANY.

Tacora at a Glance.

Tacora Resources Inc. is an iron ore mining and development company focused on the acquisition and revitalization of iron ore assets.  Dedicated to the local communities in which we operate, Tacora strives to offer equitable employment to women, Indigenous Peoples, persons with disabilities or differences, and people from visible minority groups. 

With our two mining and processing facilities, Scully Mine in Wabush, NL, Canada, and Sydvaranger, in Sør-Varanger, Norway, Tacora is servicing high demand from customers throughout Europe, the Middle East, and Asia to provide high-grade and high-quality iron ore products.

While promoting and seeking the use of local labour, suppliers, contractors and organizations majority owned by members of designated groups, Tacora encourages business development wherever we operate; we work hard to ensure that local suppliers can be competitive in areas of cost effectiveness, without negatively impacting business objectives or performance.

Our core values of safety, environmental stewardship, teamwork, and winning provide a framework for building and sustaining a highly engaged team that prioritizes personal and workplace safety.  These values function as the foundation of our Canadian and Norwegian operations, and establishing a high-performance organization is essential.  Tacora is passionate about innovation and is excited about the future demand for high-quality iron produced in both of our locations.  We have a collaborative approach to projects, and offer many performance improvement initiatives; the entrepreneurial mindset of our company is a driving force in developing growth opportunities.  The highest priority is zero harm, allowing our operations and our organization to reach high performance, so that they are sustainable in the long term and will provide economic benefits for the communities where we do business.

 

 

Who we are

Since 2017, Tacora Resources has taken a safety-first approach to mining and processing iron ore.

Our customers span the globe; from Europe, to the Middle-East, to Asia, we supply the world with high-quality iron ore concentrate.  We believe that through sustainable practices, commitment to transparency, and creating a positive work environment, our company has taken an innovative approach to business.

We do more than extract and produce high grade iron ore.  We change the lives of our employees, and become a part of the community fabric wherever we operate.  

 

 

What we do

Since 2017, Tacora Resources has taken a safety-first approach to mining and processing iron ore.

Our customers span the globe; from Europe, to the Middle-East, to Asia, we supply the world with high-quality iron ore concentrate.  We believe that through sustainable practices, commitment to transparency, and creating a positive work environment, our company has taken an innovative approach to business.

We do more than extract and produce high grade iron ore.  We change the lives of our employees, and become a part of the community fabric wherever we operate.  

 

 

OUR

HISTORY.

Our history

 In July 2017, Tacora purchased the Scully Mine, with a 6 million tonne per year iron ore concentrate capacity. During the course of the 2019 fiscal year, we restarted mining operations and commercial production at the Scully Mine. On May 25th, 2019, ore was delivered to the crusher and the first mill was successfully started up on May 28th, 2019. During June 2019, Tacora successfully commissioned its concentrator and produced its first batch of wet concentrate, undertook its first mine blast and celebrated its first loaded train. On August 30th, 2019, we announced that our first seaborne vessel shipment of iron ore concentrate produced at the Scully Mine departed the Port of Sept-Iles, Quebec, with a payload of 69,770 wmt of premium concentrate bound for a customer in Europe. Throughout the remainder of the 2019 fiscal year, Tacora continued the process of ramping up commercial production (including bringing all six mills into operation).

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During the 2020 fiscal year, Tacora continued its focus on ramping up production at the Scully Mine.  Our short-term strategy is to improve the Scully Mine and achieve nameplate production capacity of six Mtpa of high-grade iron ore concentrate in the first half of 2022, on a run rate basis. Scully mine produces product with a concentrate grade as set out in the initial feasibility study at 65.9% Fe, a level that exceeds the specifications of both the industry’s standard 62% benchmark as well as the industry’s high grade 65% benchmark, with respect to both grade and quality.

Tacora worked with the Government of Newfoundland and Labrador as well as the United Steelworkers (USW) to bring mining jobs back to Labrador West and restart the Scully Mine in Wabush, NL.  Today, over 325 employees are a part of the Tacora family.  

34 committed and dedicated employees joined Tacora from the Sydvaranger team; most of the team had worked in the mine since the previous operational period (SVG), while 2 members have actually been present throughout all 3 operational periods of Sydvaranger; these individuals are bringing their skills, expertise, familiarity with the mine and its operations, and individual competences to the Tacora family.

The Company’s equity investors include: funds managed by Proterra Investment Partners LP; Aequor Holdings LLC; Cargill Inc.; Orion Mine Finance; MagGlobal LLC and The Tschudi Group.

Our vision

At Tacora our culture is unlike any other in the mining industry.

We are driven to create a work environment where employees can utilize their individual skills and knowledge while maintaining a team-based, inclusive approach to meeting greater challenges. We strive to maintain straight lines of communication between our operations and management, so we can move collectively toward achieving our goals. These practices separate Tacora from the competition, and allow us to execute projects efficiently and effectively, while constantly discovering new ways to improve our operations.

We are a responsible mining company that works hard to build our corporate citizenship, earn the respect of the regions in which we operate, and meet customer expectations.

OUR

VALUES.

Our values

Tacora passionately believes in its key core values: safety, teamwork, winning, innovation.

These four core values provide a framework for building and sustaining a high performance, highly engaged team that prioritizes personal and workplace safety.  Besides these four pinnacles of our operations, we also believe in sustainable practices, lessening our environmental impact, transparency, and a deep bond with communities wherein we operate. 

SAFETY

Tacora prioritizes the personal safety of its employees. We encourage our employees to take safe work practices into their own hands, and urge them to stop any unsafe act or operation quickly. Working safely enhances efficiency and quality of operations, which leads to a happier, more productive team. The duty each employee has regarding safety is a deep-rooted value that everyone at Tacora possesses, on or off the mine site.

Awareness and safety instruction is taught at Tacora to ensure the competency in their workforce so that employees can distinguish, comprehend, and oversee hazards in our mining operations. Safety training includes topics such as first aid, hazardous materials management, lockout and tag-out, confined space entry, fall protection, and other programs aimed to provide the necessary tools to maintain a safe and healthy team.

TEAMWORK

Tacora is led by seasoned mining experts with deep insight into the industry, but that alone isn’t what drives our success.  We believe in collaboration and support from every level of the company structure, where communication is encouraged and initiative is rewarded.  This concept is what created our High-Performance Work Systems (HPWS), one of our key differentiators for sustainable success and profitability. Within our HPWS, we value and promote a team-oriented organization that empowers each team member to take initiative as problem solvers.

We believe in hard work, dedication, creativity, efficient execution, and a “One Team” mindset that eliminates silo mentality; everyone is equally focused on achieving their safety, environmental, and production goals.

WINNING

Depending on context, winning can carry a different meaning to each individual who hears it, which is why we hold it as one of our core values.  It can be applied to various facets of life and work; you can win by being safe at work, you can win by increasing productivity and earning a bonus in recognition of your performance, you can win by being a valued member of a team, or you can win by impacting change within your community.  This type of approach has allowed us to successfully acquire and restart mines, providing meaningful opportunities and careers to people and their families, while bolstering the economy of the communities in which we operate.  

INNOVATION

In every aspect of our operations, we believe in an innovative approach in order to make a difference.  Our management is involved with the day-to-day operations alongside our employees, offering a team-oriented approach that drives productivity and empowers each individual.  We offer performance-based compensation, and we are proud to practice sound environmental management. Our operations are designed to limit ecological effects and promote responsible stewardship of the lands where we conduct business.  Tacora is focused on keeping positive relations with our neighbours, thorough ecological stewardship, responsible mining, and honest communications with all area stakeholders. We see these duties as critical, and these values are embraced and enforced by our management team.  

Leadership

Thierry Martel

CHIEF EXECUTIVE OFFICER

Thierry Martel has more than 25 years of experience in the areas of plant engineering, mineralogy, mining, plant optimization, project development, project and asset performance recovery programs, business transformation, mining innovation and executive management.

Mr. Martel’s prior experiences include work as Chief Operating Officer and Vice President at Rio Tinto Iron Ore Company of Canada, General Management roles in Alcan and Rio Tinto between 2005 and 2019, Engineering consulting and project delivery between 1993 and 2005. Mr. Martel has a Civil Engineering degree from UNB

JOE BROKING

CHIEF FINANCIAL OFFICER

Joe Broking has more than 23 years of combined experience in the areas of corporate finance, treasury, capital fundraising, investor relations, compliance, risk management, accounting, audit, operations management, human resources management and information technology management. As Chief Financial Officer of Magnetation LLC., Mr. Broking helped raise over $1.0 billion in capital and helped build world-class finance systems capable of meeting rigorous financial reporting requirements to support the build-out of three iron ore mines and a pellet plant. Mr. Broking’s prior experience includes work with several large multi-national corporations, international assignments, manufacturing management as well as economic development, including Chief Financial Officer of Magnetation LLC., President and CEO of Itasca Economic Development Corporation, Director of Operations at Bucyrus, Director of Finance at Terex, and Director of Financial Accounting, among other positions at Stora Enso.

HOPE WILSON

CHIEF ACCOUNTING OFFICER

Hope Wilson has more than 23 years of combined experience in the areas of certified public accounting, SEC compliant reporting, corporate finance, compliance, audit, corporate tax, information technology and financial system implementations.

Mrs. Wilson’s prior experiences include work as Accountant at Laserex Systems, Ceridian Employer Services and Boyum and Barenscheer. Mrs. Wilson has a Bachelor’s degree in Accounting and is a CPA.

Marie-Andrée Morin

VICE PRESIDENT, PROJECTS

Marie-Andrée has over 25 years of providing engineering and construction-related services to support project development in the mining and minerals industry. She has worked on projects within North America, South America, Europe, Africa, Australia, and the Middle East, and ranging in size from smaller million dollars projects to those exceeding several billion dollars in capital expenditure.

She has gained significant experience with industry leaders during her extensive career, including SNC-Lavalin and Ausenco Engineering Canada, and has overseen projects for clients such as Lundin, Royal Nickel, Sydvaranger, and many more. Her experience includes general management, business development, engineering management, process engineering, and development of standard processes.

Sylvain Lessard

VICE-PRESIDENT, MINING OPERATIONS

Sylvain Lessard has more than 30 years of experience in the mining industry, progressing through more demanding roles in all aspects of open pit and underground mining operations.

Mr. Lessard prior to his appointment, held various engineering and managerial role including General Manager (Mt-Wright and Fire Lake Mine) at Arcelor Mittal, General Manager (Fabie Mine) at First Metal, Mining Superintendent (Bloom Lake Mine) at Cliffs and Project Manager (IOC’s Expansion) at Kiewit. Earlier in his career, he worked as a blasting specialist in a variety of mining operation (Gold, Copper, Zinc and Diamond). Sylvain is a mining engineer, graduated from Ecole Polytechnique of the University of Montreal.

Achille Njike

VICE PRESIDENT & CHIEF TECHNICAL OFFICER

Achille has more than 17 years of experience in the mining industry, progressing through more demanding roles in integrated Operations, Asset Management, Business transformation & Operations Excellence.

Mr. Njike’s prior experiences include Senior Leadership Role AT Rio Tinto Kennecott Utah Copper mine where he successfully led the integrated Maintenance Operations, Asset Management, Automation, Electrical & Control Systems and Operations Infrastructure across the entire value chain of Kennecott’s mining and processing operations. Achille has succeeded in other senior leadership roles within Rio Tinto Iron Ore Company of Canada, resulting in the achievement of business full potential. Prior to Rio Tinto, he worked at ArcelorMittal Mines Canada in the Asset Optimization and Operational Excellence.

Mr. Njike holds a bachelor’s degree in Mechanical Engineering, a MSc in Industrial Engineering, an Executive MBA, and PhDs in both Reliability & Maintenance Engineering and in Mineral Economics from McGill University.

Leadership

Thierry Martel

CHIEF EXECUTIVE OFFICER

Thierry Martel has more than 25 years of experience in the areas of plant engineering, mineralogy, mining, plant optimization, project development, project and asset performance recovery programs, business transformation, mining innovation and executive management.

Mr. Martel’s prior experiences include work as Chief Operating Officer and Vice President at Rio Tinto Iron Ore Company of Canada, General Management roles in Alcan and Rio Tinto between 2005 and 2019, Engineering consulting and project delivery between 1993 and 2005. Mr. Martel has a Civil Engineering degree from UNB

JOE BROKING

CHIEF FINANCIAL OFFICER

Joe Broking has more than 23 years of combined experience in the areas of corporate finance, treasury, capital fundraising, investor relations, compliance, risk management, accounting, audit, operations management, human resources management and information technology management. As Chief Financial Officer of Magnetation LLC., Mr. Broking helped raise over $1.0 billion in capital and helped build world-class finance systems capable of meeting rigorous financial reporting requirements to support the build-out of three iron ore mines and a pellet plant. Mr. Broking’s prior experience includes work with several large multi-national corporations, international assignments, manufacturing management as well as economic development, including Chief Financial Officer of Magnetation LLC., President and CEO of Itasca Economic Development Corporation, Director of Operations at Bucyrus, Director of Finance at Terex, and Director of Financial Accounting, among other positions at Stora Enso.

HOPE WILSON

CHIEF ACCOUNTING OFFICER

Hope Wilson has more than 23 years of combined experience in the areas of certified public accounting, SEC compliant reporting, corporate finance, compliance, audit, corporate tax, information technology and financial system implementations.

Mrs. Wilson’s prior experiences include work as Accountant at Laserex Systems, Ceridian Employer Services and Boyum and Barenscheer. Mrs. Wilson has a Bachelor’s degree in Accounting and is a CPA.

Marie-Andrée Morin

VICE PRESIDENT, PROJECTS

Marie-Andrée has over 25 years of providing engineering and construction-related services to support project development in the mining and minerals industry. She has worked on projects within North America, South America, Europe, Africa, Australia, and the Middle East, and ranging in size from smaller million dollars projects to those exceeding several billion dollars in capital expenditure.

She has gained significant experience with industry leaders during her extensive career, including SNC-Lavalin and Ausenco Engineering Canada, and has overseen projects for clients such as Lundin, Royal Nickel, Sydvaranger, and many more. Her experience includes general management, business development, engineering management, process engineering, and development of standard processes.

Sylvain Lessard

VICE-PRESIDENT, MINING OPERATIONS

Sylvain Lessard has more than 30 years of experience in the mining industry, progressing through more demanding roles in all aspects of open pit and underground mining operations.

Mr. Lessard prior to his appointment, held various engineering and managerial role including General Manager (Mt-Wright and Fire Lake Mine) at Arcelor Mittal, General Manager (Fabie Mine) at First Metal, Mining Superintendent (Bloom Lake Mine) at Cliffs and Project Manager (IOC’s Expansion) at Kiewit. Earlier in his career, he worked as a blasting specialist in a variety of mining operation (Gold, Copper, Zinc and Diamond). Sylvain is a mining engineer, graduated from Ecole Polytechnique of the University of Montreal.

Achille Njike

VICE PRESIDENT & CHIEF TECHNICAL OFFICER

Achille has more than 17 years of experience in the mining industry, progressing through more demanding roles in integrated Operations, Asset Management, Business transformation & Operations Excellence.

Mr. Njike’s prior experiences include Senior Leadership Role AT Rio Tinto Kennecott Utah Copper mine where he successfully led the integrated Maintenance Operations, Asset Management, Automation, Electrical & Control Systems and Operations Infrastructure across the entire value chain of Kennecott’s mining and processing operations. Achille has succeeded in other senior leadership roles within Rio Tinto Iron Ore Company of Canada, resulting in the achievement of business full potential. Prior to Rio Tinto, he worked at ArcelorMittal Mines Canada in the Asset Optimization and Operational Excellence.

Mr. Njike holds a bachelor’s degree in Mechanical Engineering, a MSc in Industrial Engineering, an Executive MBA, and PhDs in both Reliability & Maintenance Engineering and in Mineral Economics from McGill University.