Newfoundland and Labrador Mining News

IOC green-lights new iron ore pit in Labrador

The Iron Ore Company of Canada (IOC) is taking advantage of rocketing iron ore prices by pushing forward with its Wabush 3 iron ore mine in Labrador, Canada.

Osisko Gold back to its roots, sells stake in Labrador Iron Ore

The move comes less than two years after the Montreal-based firm decided to add exposure to the steelmaking raw material by grabbing a stake in the fellow Canadian iron ore company.

Idled Canadian iron ore mine charged with $30K fine over pollution

Mining company will be added to the country’s Environmental Offenders Registry.

Canadian Gov’t loans $2M to Newfoundland copper-gold mine

Funding will help English junior miner Rambler to increase production at its flagship mine, Ming, located in the Baie Verte Peninsula.

No white knight for idled Wabush Mines

The mine's assets are now in the process of being liquidated.

Plans move forward for rare earth elements mine on Labrador coast

Financeable at a cost of $152 million.

Australia’s Paladin Energy gets historic ok to run uranium mine in Canada

Until now Canadian companies needed to have at least 51% stake in any uranium project.

Labrador Iron Mines seeks court protection from creditors

The Canadian miner became the latest victim of slumping iron ore prices.

Vale confirms plans to sell stake in $35 billion base metals unit

Chief Financial Officer Luciano Siani confirmed Tuesday the company's plans to sell a minority stake in its metals-producing unit.

Wabush woes: Labrador mining town reels from a China slowdown

Ron Barron has spent 30 years working in the Wabush mine, one of three generations of Barrons who have toiled in the open pits in what western Labrador bills as the iron ore capital of Canada.

Maritime, Rambler ink deal to re-examine Hammerdown mine

Maritime Resources Corp. of Vancouver and Rambler Metals & Mining of Baie Verte, Newfoundland, have agreed to re-examine the former Hammerdown gold mine that lies in Maritime's Green Bay property near Springdale.

Cliffs mulls closing Bloom Lake iron ore mine for lack of buyers

Closing the mine will cost $650 million to $700 million over the next five years.

Vale sees iron ore prices coming back to historical levels

CEO Murilo Ferreira thinks the ore may get close to 2011’s peak of $168 a ton.

Pilbara expansion boosts Rio Tinto iron ore output

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.

Australia’s big three miners to regain control of iron ore sector

Billionaire Andrew Forrest, who made his fortune as the driving force behind Fortescue, says high cost competitors will exit the market shortly.

Labrador Iron Mines halts operations on weak ore prices, high costs

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.

Massive Canadian iron ore mine gets final go ahead

Alderon Iron Ore gets green light to start construction of $1 billion iron ore mine with Chinese backing near Labrador City.

Transmission line agreement boosts Alderon

Up 7.94%.

Massive oil find off Canada’s Newfoundland could yield up to 600m barrels

While production is not expected until after 2020, the finding was welcomed in a province that leans heavily on offshore earnings.

China's largest steelmaker buys into Canada's Labrador Trough

The Kami project is expected to produce 8 million tonnes per year.

Big holes found in Canada’s oil spill plans

Report shows Canadian taxpayers could be on the hook for a massive environmental cleanup bill in the event of an offshore oil leak.

Power issues could get in the way of Canada’s Labrador expected mining boom

$15 billion of investment in Labrador mining projects over the next decade may be jeopardized by the lack of energy sources unless alternatives, such as generating power from the Muskrat Falls, are put in place.

Chinese backing in Labrador Trough softens impact of iron ore plunge

"They all say that the Chinese firms believe the market volatility is temporary, and that pricing should return to $120 or $130 in the coming months."

Diving Chinese demand hits Canadian iron ore market

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.

Labrador Iron Mines commences 2012 exploration program

An exploration budget of $8.6 million has been approved for 2012, comprising 11,280 metres (m) of drilling and 3,600 m of trenching, supported by geophysics, in 12 target areas.