Labrador Iron Mines
Metals/Mining - N/A, N/A, CA
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Labrador Iron Mines Details
Labrador Iron Mines (LIM) is Canada's newest iron ore producer. We own a diversified portfolio of direct shipping (DSO) iron ore operations and projects located in the prolific Labrador Trough. Initial production commenced at our 100%-owned James Mine in June 2011 and we recorded the sale of 400,000 tonnes of iron ore for the year. The first full production season commenced on April 2, 2012 and we are targetting an annual sales forecast of 2.0 million tonnes of iron ore.LIM is focused on a strategic and robust growth plan arising from our portfolio of 20 iron ore deposits in Labrador and Quebec, all within 50 kilometres of the town of Schefferville. The area is connected by a direct rail link to the Port of Sept-Iles, Québec, and hosts additional infrastructure including an airstrip and hydro power. Starting with the James Mine and leading to the development of the exciting Houston flagship deposit, our objective is to provide shareholders with long-term value as we ramp up production and sales towards 5.0 million tonnes by 2015. We are currently the only independently-owned iron ore producer listed on the Toronto Stock Exchange and trade under the symbol LIM.
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