Shares of Labrador Iron Ore, which has a 15 percent stake in the company, fell 5 percent.
IRON ORE COMPANY OF CANADA (IOC ) Mining News
The expansion, which would add about a dozen years to the mine, would begin construction in 2016 with mining starting in 2018.
Canada's largest iron ore producer is looking to expand its operations in Newfoundland/Labrador. IOC announced last week that it has launched a study to evaluate options that would increase production to 50 million tonnes per year by 2016. The expansion effectively doubles IOC's capacity from 26 million tonnes per annum, the target set for 2013 after the completion of three concentrate expansion projects (COPs).
Modular Mining Systems, Inc., the world leader in powerful information management systems for maximizing mine productivity, announces that the Iron Ore Company of Canada (IOC), a Rio Tinto operation in Labrador City, has renewed their […]