Tacora at a Glance

Who We Are

What We Do

Our History

Our Values

Leadership

Board of Directors

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 Teamwork, Safety, Determination, Sustainability 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 premium iron ore 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.

The Company is privately owned by a collection of world-class mining investors including Proterra Investment Partners, Cargill, Aequor Holdings, Orion, MagGlobal, and the Tschudi group. 

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 premium 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.  

 

 

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

Tacora works closely with stakeholders, governments, and community leaders to enhance the lives of our employees and bring prosperity to the locations where we operate.  Tacora’s entrepreneurial nature, our appetite for new technology, and our dedication to the environment are key factors in our success.

We work in progressive jurisdictions, and offer meaningful, rewarding employment to members of the community.  Our innovative approach while mining, transporting materials, sorting product, and shipping our ore allows us to reduce our environmental impact, ensuring that our operations are sustainable, and that we provide high-quality product to all our customers.

What we do

Tacora works closely with stakeholders, governments, and community leaders to enhance the lives of our employees and bring prosperity to the locations where we operate.  Tacora’s entrepreneurial nature, our appetite for new technology, and our dedication to the environment are key factors in our success.

We work in progressive jurisdictions, and offer meaningful, rewarding employment to members of the community.  Our innovative approach while mining, transporting materials, sorting product, and shipping our ore allows us to reduce our environmental impact, ensuring that our operations are sustainable, and that we provide high-quality product to all our customers.

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 350 employees are a part of the Tacora family worldwide.

On January 13, 2021, the Company completed the acquisition of 100% of the share capital of Sydvaranger Mining AS (the “Sydvaranger Mine”
or “Sydvaranger”). The Sydvaranger Mine is a long-life iron ore open pit, mineral processing plant, and port. The concentrator and port facilities are in the town of Kirkenes, Norway and the mines are 8 km to the south near the town of Bjørnevatn, Norway. As a result of the acquisition, Tacora has the option to restart the Sydvaranger Mine which is shovel ready and fully permitted in a tier 1 jurisdiction. Sydvaranger is currently under a care
and maintenance program.

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).

Read More

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.  

Upon acquiring Sydvaranger in 2021, 34 committed and dedicated employees joined Tacora from the Sydvaranger mining team; most of whom have worked in the mine since the previous operational period (SVG), while two members have actually been present throughout all three 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.

Our vision

At Tacora our culture is unique 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.

Aligned with our values, Tacora’s vision is to be recognized as a development platform in mining of new and existing mine sites, applying modern mining techniques and an entrepreneurial mindset to achieve:

» The highest levels of safety and environmental performance,
» Delivery of high-quality products at costs which are sustainable long term,
» Earning the respect from all its stakeholders and being recognized as a model in the industry.

Our values

Tacora passionately believes in our key core values: Teamwork, Safety, Determination, Sustainability and Winning.

These five core values provide a framework for building and sustaining a high performance, highly engaged team that prioritizes personal and workplace safety.  Besides these 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

We are SAFE.We are SAFE. We prioritize the personal safety of our employees. We empower our employees to take safe work practices into their own hands and urge them to stop any unsafe act or operation quickly. The duty each employee has regarding safety is a deep-rooted value that everyone at Tacora uses, on or off our mine sites. Our mission is that everyone goes home safe, every day.

SUSTAINABILITY

We are SUSTAINABLE

We are SUSTAINABLE. We are focused on keeping positive relations with our neighbours, thorough ecological stewardship, environmentally responsible mining of the lands where we operate, and honest communications with all area stakeholders. We aim to earn the respect of the regions in which we operate, meet customer’s expectations, and be sustainable by producing a premium product while maintaining a low-cost structure. We see these duties as critical, and these values are embraced and enforced by our leadership.

TEAMWORK

We are a TEAM. We mandate a flat, team-based organization that empowers our team members to take initiative as problem solvers and make decisions. Our ‘One Team’ mindset eliminates silo mentality where everyone is equal and strongly focused on achieving our health, safety, environmental, and production goals.

DETERMINATION

We are DETERMINED. We are passionate and excited about the future of iron ore. We are focused on our goal of producing Tacora Premium Concentrate for our customers and achieving nameplate capacity annually. We are determined to build the best mining Company in the world where all our employees know they are valued and treated with the upmost respect and appreciation.

WINNING

Together, we will WIN! Our key differentiator for sustainable success and profitability is our Tacora Operating System (TOS). We believe in winning which requires hard work, dedication, determination, creativity, efficient execution, and a ‘One Team’ mindset, all while maintaining safety as a top priority. These principles define what drives Tacora’s business.

Our values

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

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

We are SAFE.We are SAFE.

We prioritize the personal safety of our employees. We empower our employees to take safe work practices into their own hands and urge them to stop any unsafe act or operation quickly. The duty each employee has regarding safety is a deep-rooted value that everyone at Tacora uses, on or off our mine sites. Our mission is that everyone goes home safe, every day.

SUSTAINABILITY

We are SUSTAINABLE

We are SUSTAINABLE.

We are focused on keeping positive relations with our neighbours, thorough ecological stewardship, environmentally responsible mining of the lands where we operate, and honest communications with all area stakeholders. We aim to earn the respect of the regions in which we operate, meet customer’s expectations, and be sustainable by producing a premium product while maintaining a low-cost structure. We see these duties as critical, and these values are embraced and enforced by our leadership.

TEAMWORK

We are a TEAM.

We mandate a flat, team-based organization that empowers our team members to take initiative as problem solvers and make decisions. Our ‘One Team’ mindset eliminates silo mentality where everyone is equal and strongly focused on achieving our health, safety, environmental, and production goals.

DETERMINATION

We are DETERMINED.

We are passionate and excited about the future of iron ore. We are focused on our goal of producing Tacora Premium Concentrate for our customers and achieving nameplate capacity annually. We are determined to build the best mining Company in the world where all our employees know they are valued and treated with the upmost respect and appreciation.

WINNING

Together, we will WIN!

Our key differentiator for sustainable success and profitability is our Tacora Operating System (TOS). We believe in winning which requires hard work, dedication, determination, creativity, efficient execution, and a ‘One Team’ mindset, all while maintaining safety as a top priority. These principles define what drives Tacora’s business.

Leadership

JOE BROKING

Director, President and Chief Executive Officer

Joe Broking has more than 23 years of combined experience in the areas of executive management, operations management, human resources management, corporate finance, treasury, capital fundraising, investor relations, compliance, risk management and information technology management.

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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.

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Achille Njike

EXECUTIVE VICE PRESIDENT & CHIEF OPERATING 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.

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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.

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HUBERT VALLÉE VICE PRESIDENT Tacora

Hubert Vallée

VICE PRESIDENT, BUSINESS DEVELOPMENT

Hubert Vallée graduated from Laval University in Engineering. He joined Québec Cartier Mining as Project Engineer and was promoted to Director of Operations for its Pellet Plant in 2001.

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Leadership

JOE BROKING

Director, President and Chief Executive Officer

Joe Broking has more than 23 years of combined experience in the areas of executive management, operations management, human resources management, corporate finance, treasury, capital fundraising, investor relations, compliance, risk management and information technology management.

As Chief Financial Officer of Tacora Resources Inc. and Magnetation LLC., Mr. Broking helped raise over $1.5 billion in capital and implemented world-class business systems to support the build-out of five 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 Chief Accounting Officer for Magnetation LLC and Accountant for Laserex Systems, Ceridian Employer Services and Boyum and Barenscheer. Mrs. Wilson has a Bachelor’s degree in Accounting and is a CPA (inactive).

Achille Njike

EXECUTIVE VICE PRESIDENT & CHIEF OPERATING 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.

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.

Hubert Vallée

VICE PRESIDENT, BUSINESS DEVELOPMENT

Hubert Vallée graduated from Laval University in Engineering. He joined Québec Cartier Mining as Project Engineer and was promoted to Director of Operations for its Pellet Plant in 2001.

He managed the Iron Ore Company of Canada’s Pellet Plant in Sept-Iles before joining Domtar Inc. as Mill Manager of its pulp mill in Lebel-sur-Quévillon. He joined Consolidated Thompson in 2006 and was one of the key people who made this project happen. After the sale of Consolidated Thompson Cliffs, Mr. Vallée acted as Vice President Project Development for Phase II of Bloom Lake operation. He has also been involved as Senior Vice President, Project Development, at Century Iron Mines. From February 2014 to September 2016, Mr. Vallée acted as President and CEO of Lamelee Iron Ore Ltd. From 2017 to 2018, he was CEO of Canadian Metals. He is now acting as V.P. development for Tacora Resources and Vanadium One Iron and independent Director for Genius Metals.

Board of Directors

 

Jacques Perron

Director, Non-Executive Chairman

  • 35+ years of experience in the mining industry with extensive technical and operations experience in Canada and globally.
  • Prior experiences include acting as President and Chief Executive Officer of Pretium Resources Inc., Thompson Creek Metals Company Inc., and St Andrew Goldfields Ltd. He has also held senior management positions in a number of other mining companies, including IAMGOLD Corporation, Cambior Inc., Cameco Inc., Placer Dome Canada Limited, Breakwater Resources Ltd., JS Redpath Ltd. and Noranda Inc.
  • Currently serves as a non-executive director on the board of Centerra Gold Inc.

Joe Broking

Director, President and CEO

  • 23+ years experience in operations management, human resources management, capital fundraising, investor relations, corporate finance and information technology management.
  • Prior experiences include work with several large multi-national corporations, international assignments, manufacturing management as well as economic development and most recently as Chief Financial Officer for Tacora Resources Inc. and Magnetation LLC.
  • Has helped raise over $1.5 billion in capital and implemented world-class business systems to support the build-out of five iron ore mines and a pellet plant.

 

Nick Carter

Director

 

  • 30+ years of combined experience in the energy sector in various executive roles and board posts culminating as President and COO of Natural Resources Partners LP
  • Currently serves on multiple boards in the mining, energy and non-profit sector

Sam Byrd

Director

  • 20+ years of experience, predominantly within the mining sector, in private equity, industry, investment banking and finance
  • Currently a Managing Director at Proterra where he helps direct investments in the Metals & Mining sector

David J. Durrett

Director

  • 20+ years of experience in the mining industry in production, logistics and sales
  • Currently founder/CEO of a private industrials mineral company and previously co-founder/CEO of NBI, an industrials mineralcompany sold to US Silica
  • Previously managed industrial minerals mines in Canada which were sold to Unimin and Lafarge

Peter Steiness Larson

Director

  • 15+ years of experience, including currently serving as the CFO of the Tschudi Group, as well as 6 years with Burmeister & Wain Shipyard AS (Finance and Project development), 5 years with Elsam Project AS (Project Finance Manager)and 4 years with Enron Nordic Energy (Manager for Structured Projects)

Larry Lehtinen

Director

  • 40+ years of experience in iron ore and ferrous operations and management
  • Previously Chairman/CEO of Tacora, CEO of Magnetation, VP at Steel Dynamics, VP at Cliffs Natural Resources, and VP at Inland Steel

Phil Mulvihill

Director

  • 20+ years of experience in business development, investments, workouts, capital markets and commodity & derivative transactions
  • Currently leads and is responsible for the solutions and structuring team for Cargill’s global metals business

Torben Thordsen

Director

  • 25+ years of experience, predominantly within the mining sector, in private equity, corporate finance, investment banking and industry
  • Currently a Partner at Proterra with responsibility for the Metals & Mining private equity strategy and team

James Warren

Director

  • 20+ years of experience in private equity, legal, risk, government affairs, compliance, governance and overall business strategy
  • Currently General Counsel & CCO at Proterra where he is responsible for all legal/compliance matters
Jacques Perron

Director, Non-Executive Chairman

  • 35+ years of experience in the mining industry with extensive technical and operations experience in Canada and globally.
  • Prior experiences include acting as President and Chief Executive Officer of Pretium Resources Inc., Thompson Creek Metals Company Inc., and St Andrew Goldfields Ltd. He has also held senior management positions in a number of other mining companies, including IAMGOLD Corporation, Cambior Inc., Cameco Inc., Placer Dome Canada Limited, Breakwater Resources Ltd., JS Redpath Ltd. and Noranda Inc.
  • Currently serves as a non-executive director on the board of Centerra Gold Inc.

 

 

Joe Broking

Director, President & CEO

  • 23+ years experience in operations management, human resources management, capital fundraising, investor relations, corporate finance and information technology management.
  • Prior experiences include work with several large multi-national corporations, international assignments, manufacturing management as well as economic development and most recently as Chief Financial Officer for Tacora Resources Inc. and Magnetation LLC.
  • Has helped raise over $1.5 billion in capital and implemented world-class business systems to support the build-out of five iron ore mines and a pellet plant.
Nick Carter

Director

  • 30+ years of combined experience in the energy sector in various executive roles and board posts culminating as President and COO of Natural Resources Partners LP
  • Currently serves on multiple boards in the mining, energy and non-profit sector
Sam Byrd

Director 

  • 20+ years of experience, predominantly within the mining sector, in private equity, industry, investment banking and finance
  • Currently a Managing Director at Proterra where he helps direct investments in the Metals & Mining sector
David J. Durrett

Director 

  • 20+ years of experience in the mining industry in production, logistics and sales
  • Currently founder/CEO of a private industrials mineral company and previously co-founder/CEO of NBI, an industrials mineral company sold to US Silica
  • Previously managed industrial minerals mines in Canada which were sold to Unimin and Lafarge
Peter Steiness Larson

Director 

  • 15+ years of experience, including currently serving as the CFO of the Tschudi Group, as well as 6 years with Burmeister & Wain Shipyard AS (Finance and Project development), 5 years with Elsam Project AS (Project Finance Manager)and 4 years with Enron Nordic Energy (Manager for Structured Projects)

Larry Lehtinen

Director 

  • 40+ years of experience in iron ore and ferrous operations and management
  • Previously Chairman/CEO of Tacora, CEO of Magnetation, VP at Steel Dynamics, VP at Cliffs Natural Resources, and VP at Inland Steel
Phil Mulvihill

Director

  • 20+ years of experience in business development, investments, workouts, capital markets and commodity & derivative transactions
  • Currently leads and is responsible for the solutions and structuring team for Cargill’s global metals business
Torben Thordsen

Director

  • 25+ years of experience, predominantly within the mining sector, in private equity, corporate finance, investment banking and industry
  • Currently a Partner at Proterra with responsibility for the Metals & Mining private equity strategy and team
James Warren

Director

  • 20+ years of experience in private equity, legal, risk, government affairs, compliance, governance and overall business strategy
  • Currently General Counsel & CCO at Proterra where he is responsible for all legal/compliance matters