Labrador Iron Mines Holdings Limited :: Home

Time 2020-09-22 23:11:54

Web Name: Labrador Iron Mines Holdings Limited :: Home

WebSite: http://www.labradorironmines.ca

ID:56298

Keywords:

Mines,Iron,Labrador,

Description:

Labrador Iron Mines Holdings Limited (“LIMH”), through its majority owned subsidiaries Labrador Iron Mines Limited (“LIM”) and Schefferville Mines Inc. (“SMI”), is engaged in the exploration and development of iron ore projects in the central part of the Labrador Trough region, one of the major iron ore producing regions in the world, situated in the Menihek area in the Province of Newfoundland and Labrador and in the Province of Quebec, centered near the town of Schefferville, Quebec.LIM owns extensive iron ore resources as well as numerous mineral exploration claims in Newfoundland and Labrador and in Quebec (collectively, the “Schefferville Projects”). LIM’s direct shipping iron ore (“DSO”) projects comprise numerous different iron ore deposits of varying sizes, divided into two separate portions, one within the Province of Newfoundland and Labrador and the other within the Province of Quebec.LIM also holds the Elizabeth Taconite Project, which has its first independent Inferred mineral resource estimate, as at June 15, 2013,comprising two adjacent deposit areas. Approximately 620 million inferred tonnes at an average grade of 31.8% Fe have been estimated in Elizabeth No. 1 and a potential 350 million to 600 million tonnes at an average grade 31.9% Fe have been estimated in Elizabeth No. 2.In the three-year period of 2011, 2012 and 2013 LIM produced a total of 3.6 million dry metric tonnes of iron ore, all of which was sold in 23 cape-size shipments into the China spot market.Labrador Iron Mines is positioned positioned to resume mining operations and development of its Houston Mine, when market conditions permit, subject to completion of financing and negotiation of major contracts.Labrador Iron Mines LimitedLIMH holds approximately 51% of the shares of LIM. LIM and its subsidiary SMI hold all of the group's mineral properties and assets.Schefferville Mines Inc.SMI is a wholly-owned subsidiary of LIM. SMI holds all of the group's mineral properties and assets in the Province of Quebec.Houston Iron Royalties LimitedFormer creditors of LIM and SMI hold shares in Houston Iron Royalties Limited ("RoyaltyCo"), that has the right to receive a royalty equal to 2% of the sales proceeds (FOB Port of Sept-Iles) received by LIM from sales of iron ore from LIM's Houston and SMI's Malcolm properties.  20 Direct Shipping (DSO) iron ore deposits in western Labrador and Quebec Extensive infrastructure in place from previous IOC operations including power, airport, roads, 565km of rail, deep sea port Low capex open-pit mining, technically simple processing High quality lump and fines products suitable for Asian and European markets

TAGS:Mines Iron Labrador 

<<< Thank you for your visit >>>

Hot Websites