The Canadian miner became the latest victim of slumping iron ore prices.
Labrador Iron Mines Holdings Limited Mining News
Quebec's highest court has refused to hear an appeal of a last year judgment that rejected a motion to dismiss the millionaire lawsuit against the miner's Iron Ore Co. of Canada (IOC).
Quebec judge wouldn't dismiss $900 million lawsuit.
CEO Murilo Ferreira thinks the ore may get close to 2011’s peak of $168 a ton.
The world’s second-largest mining company’s produced 139.5 million metric tons of iron ore in the six months through June, while its shipments rose 20% to 142.4 million tons.
Billionaire Andrew Forrest, who made his fortune as the driving force behind Fortescue, says high cost competitors will exit the market shortly.
The firm said it has already put in place savings initiatives in various areas including mining equipment rates, rail car leasing rates and corporate and administration costs.
The government has set aside a maximum of $20 million from its Northern Plan Fund to estimate costs and define the best railway option for the iron-ore rich region.
The President of CANARAIL is pleased to announce the recent signature of a contract with the mining company Labrador Iron Mines (LIM) to help the miner improve and optimize its current onsite transport solutions.
Canada’s Labrador Iron Mines (TSX:LIM) said it had cut its capital expenditure (capex) budget as a result of iron-ore prices falling sharply during August.
The Canadian National Railway and the Caisse de depot pension fund manager are studying an infrastructure project for the Quebec-Labrador iron belt, which may be what Canada needs to become one the world’s major iron ore producers.
Labrador Iron Mines Holdings Limited (TSX: LIM) is pleased to announce that it has received environmental approval and project release from the Government of Newfoundland and Labrador for its Houston iron ore mining project in Western Labrador.
A remote geographic zone straddling Canadian Québec and Labrador areas is causing quite a stir in mining circles due to the large iron reserves waiting to be developed into mines.
Stocks in Labrador Iron Mines Holdings ended up 5% in Toronto on Thursday after reporting that on June 29, 2011 the first loaded iron ore train departed Silver Yards for the Port of Sept-Iles travelling over the TSH and QNS&L railways. This historic event is the first commercial iron ore train from the Schefferville area in almost 30 years. Labrador is developing twenty direct shipping iron ore deposits in western Labrador and north-eastern Quebec. LIM’s properties are part of the historic Schefferville area iron ore district where mining of adjacent deposits was previously carried out by the Iron Ore Company of Canada from 1954 to 1982.
Labrador Iron Mines Holdings announced that it has signed a landmark Impact Benefits Agreement with the Nation Innu Matimekush-Lac John of Schefferville, Quebec, with regard to LIM's Schefferville Area direct shipping iron ore mining projects in the Province of Newfoundland and Labrador and in the Province of Quebec.
Labrador Iron Mines Holdings Limited (TSX:LIM) (the "Company" or "LIM") is pleased to announce that it has completed its previously announced public offering of C$100,000,000 in common shares and C$10,000,500 in flow-through shares of the Company, at a price of C$12.50 per common share and C$15.00 per flow-through share (collectively, the "Offering"). The Offering was completed by a syndicate of underwriters led by Canaccord Genuity Corp. and included BMO Nesbitt Burns Inc., Jennings Capital Inc., Haywood Securities Inc. and Scotia Capital Inc. (collectively, the "Underwriters").
Labrador Iron Mines Holdings Limited (TSX:LIM) announced that in connection with its previously announced public offering on April 4, 2011, it has entered into an agreement with a syndicate of underwriters to sell 8 million common shares of the company at C$12.50 per common share and 666,700 flow-through shares at C$15.00 per share for aggregate gross proceeds of C$110,000,500.
Anglesey Mining's 41%-owned Labrador Iron Mines Holdings Limited (TSX: LIM) has entered into a life of mine transportation contract with Quebec North Shore and Labrador Railway for transporting iron ore from LIM's DSO iron ore projects near Schefferville. The contract provides that QNS&L will carry LIM's iron ore from Emeril Junction, Newfoundland and Labrador, to Sept- les Junction, Quebec, on the QNS& L Railway. The railway already carries iron ore for Iron Ore Company of Canada, Wabush Mines and Consolidated Thompson's (now Cliffs Resources) Bloom Lake Mine.
Anglesey's 41%-owned associate Labrador Iron Mines Holdings Limited (TSX: LIM) has signed an agreement with Tshiuetin Rail Transportation Inc. ("TSH") for the transportation of iron-ore from LIM's Schefferville project over the 235-kilometre TSH Railway, which […]