Labrador Iron buys build ore holdings in Quebec

Dec 17, 2009 | 07:55 AM | Lisa Gordon

Labrador Iron Mines Holdings Ltd. (LIM) has acquired an additional 50 million tons of direct shipping iron ore (DSO) in Quebec through a series of five recent transactions.

The properties, located in the Schefferville area, are near the Toronto-based company's Western Labrador operations that are expected to begin production sometime next year.

"These properties represent a very significant increase in the resource base available to LIM and will both complement LIM's planned DSO operations in Labrador as well as providing LIM with an excellent base and adjacent portfolio of properties within the Labrador Trough in the province of Quebec," John F. Kearney, the company's chairman, said.....

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