Newfoundland-based Altius Minerals has expanded its exploration agreement with number-one US iron-ore miner Cliffs Natural Resources to include a new project in northern Labrador, it said on Monday. Image of serpentinized ultramafics with Cr pods in the Pipestone Pond area, by Altius Minerals
Altius Mineral Corporation Mining News
Altius Minerals Corporation reported net earnings of $70,239,000 or $2.42 per share for the year ended April 30, 2011 compared to net earnings of $20,963,000 for the prior year.
Altius Minerals made a profit of $69.3 million, or $2.38 per share, in the three months ending January 31 — the Canadian iron ore producer's third quarter. That compares to a $102,000 loss in the same period last year. Quarterly revenues were 1.1 million versus $912,000 for the previous year's Q3. Altius also gained $84.6 million after transferring its 100% interest in the Kami iron ore property to Alderon Resources Corp. in exchange for 32.3 million shares of Alderon.