Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-279

Yes and the marketing would not have been straight forward.

In information released, we know that spod from NAL has gone to five different refineries in China.

The rationale I gather, is to qualify the product in as many refineries as possible to widen the number of refineries that can take it.

On top of that, shipping via the North West Passage is quite rare. Last year there were less than ten cargo ships that passed through the NWP and most of them went from west to east.

Securing a shipment from east to west would have been difficult to do.

Glencore have been operating in Canada and the Arctic Region for longer than most of us have been on the planet, (Whisky and myself excluded).


Granted, I am joining dots but the Port of Quebec has a very big Glencore presence and that is the departure port for spod from NAL.