Boasting that they are “Canada’s newest high-growth iron-ore producer”, Labrador Iron Mines Holdings Limited (LIM) has their efforts focused on the Schefferville Projects, which span from northeastern Quebec over to western Labrador.
With 400,000 tonnes of iron-ore product sold in 2011, operating permits and agreements in place for this year, a large and increasing resource base and exploration upside and a low-cost, un-hedged production with no restrictive offtakes, this company has made itself a major player in the region.
According to the company’s website, the Schefferville Projects comprise 20 direct shipping iron-ore deposits forming part of the historic Schefferville area iron-ore district where mining of adjacent deposits was previously carried out by the Iron Ore Company of Canada from 1954 to 1982. LIM plans mining in varying stages, the first of which comprises the James and Redmond deposits located in close proximity to existing infrastructure.
Managing to renew the industry to the region, this company managed to send out the first loaded iron-ore train in over 30 years on June 29, 2011, during the company’s start-up and pre-commercial production period.
It should also be noted that according to company President John F. Kearney, Grand Chief Matthew Coon Come is on its Board of Directors.
For more info: http://www.labradorironmines.ca
