Cyclone Metals Ltd CEO Paul Berend talked with Proactive's Stephen Gunnion about the company's landmark joint venture agreement with Vale for the Iron Bear project in Canada. The agreement, which Berend described as a "first of its kind," outlines a clear path to production through a two-phase investment structure. Vale can spend up to $138 million US to earn a 75% stake in the project, with the option to either buy out Cyclone Metals or carry the company into production with no dilution. Phase one involves an $18 million US investment from Vale, funding a work program including drilling, a pre-feasibility study, and an environmental baseline study. If Vale progresses to phase two, it will invest an additional $120 million US, advancing the project towards a bankable feasibility study, impact assessments, and securing permits. Berend emphasised the project's significant potential, highlighting Iron Bear's massive 16.6 billion ton resource and its strategic advantages, including access to infrastructure and clean energy. He noted that Iron Bear could potentially produce a highly sought-after direct reduction grade concentrate, crucial for low-carbon steelmaking. For more insights into Cyclone Metals and its journey with the Iron Bear project, visit Proactive’s YouTube channel for more videos. Don’t forget to like the video, subscribe to the channel, and enable notifications for future content. #CycloneMetals #IronBearProject #ValeDeal #MiningNews #GreenSteel #Investing #IronOre #Minerals #ProactiveInterviews