LABRADOR IRON MINES

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Labrador Iron Mines is engaged in the mining of iron ore and in the exploration and development of direct shipping iron ore projects (the "Schefferville Projects") in the central part of the prolific 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. The Schefferville Projects consist of the James Mine and adja... cent Stage 1 deposits and Silver Yards processing facility, the Stage 2 Houston property, which includes the Malcolm 1 deposit, the Stage 3 Howse property, held in a joint venture with Tata Steel Minerals Canada Limited ("TSMC") and, subject to further exploration and development, other iron ore properties in the vicinity of Schefferville. LIM's Schefferville Projects are connected by a direct railway to the Port of Sept-Iles on the Atlantic Ocean and benefit from established infrastructure, including, the town, airport, roads, hydro power and rail service. LIM's Schefferville Projects comprise 20 different iron ore deposits, which were part of the original Iron Ore Company of Canada ("IOC") direct shipping operations conducted from 1954 to 1982 and formed part of the 250 million tonnes of historical reserves and resources previously identified by IOC. These historical resources estimates are based on work completed and estimates prepared by IOC prior to 1983 and were not prepared in accordance with NI 43-101. LIM's iron ore deposits which comprise the Schefferville Projects are divided into two separate portions, one within the Province of Newfoundland and Labrador and the other within the Province of Quebec. Since production commenced in June 2011, LIM has completed three operating seasons and has sold 23 shipments totalling 3.6 million dry tonnes (3.8 million wet tonnes) of iron ore into the Chinese spot market. LIM did not undertake any mining operations for the 2014 operating season due to a combination of the prevailing low price of iron ore, an assessment of the current economics of its deposits and a strategic shift in corporate focus towards establishing a lower cost operating framework, while concurrently negotiating the commercial terms of major contracts. LIM's current focus is seeking additional financing and completing a debt restructuring. The Company is also working on development of the Houston Mine, to be in a position to complete construction and begin mining operations from Houston when market conditions permit, subject to completion of financing and negotiation of major contracts.

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LABRADOR IRON MINES

Social Links:

Industry:
Mining Mining Technology Service Industry

Founded:
2007-01-01

Address:
Toronto, Ontario, Canada

Country:
Canada

Website Url:
http://www.labradorironmines.ca

Total Employee:
501+

Status:
Active

Contact:
(647)728-4125

Total Funding:
71.63 M CAD

Technology used in webpage:
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Current Employees Featured

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John F. Kearney
John F. Kearney Chairman & CEO @ Labrador Iron Mines
Chairman & CEO

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Bill Hooley
Bill Hooley Director, Vice Chairman @ Labrador Iron Mines
Director, Vice Chairman

Stock Details


Company's stock symbol is CVE:LBRMF

Investors List

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Paradigm Capital

Paradigm Capital investment in Post-IPO Equity - Labrador Iron Mines

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Raymond James

Raymond James investment in Post-IPO Equity - Labrador Iron Mines

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RBC Capital Markets

RBC Capital Markets investment in Post-IPO Equity - Labrador Iron Mines

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Canaccord Genuity Group

Canaccord Genuity Group investment in Post-IPO Equity - Labrador Iron Mines

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Octagon Capital Partners

Octagon Capital Partners investment in Post-IPO Equity - Labrador Iron Mines

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Jennings Capital Inc

Jennings Capital Inc investment in Post-IPO Equity - Labrador Iron Mines

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Scotia Capital

Scotia Capital investment in Post-IPO Equity - Labrador Iron Mines

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Haywood Securities Inc.

Haywood Securities Inc. investment in Post-IPO Equity - Labrador Iron Mines

Official Site Inspections

http://www.labradorironmines.ca Semrush global rank: 4.93 M Semrush visits lastest month: 1.75 K

  • Host name: 74-208-236-26.elastic-ssl.ui-r.com
  • IP address: 74.208.236.26
  • Location: United States
  • Latitude: 37.751
  • Longitude: -97.822
  • Timezone: America/Chicago

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