Huge mining projects in works – by Robert Gibbens (Montreal Gazette – April 25, 2012)

http://www.montrealgazette.com/index.html

Quebec-Labrador on track to be world’s third biggest iron-ore draw within decade
 
Two jumbo projects could turn Quebec-Labrador into the world’s third biggest iron-ore mining region in a decade – and one of them has just deepened its footprint in Quebec.
 
The jumbos are New Millennium Iron Corp., with international partner Tata Steel of India, and Adriana Resources Inc., with partner Wuhan Iron & Steel Corp., China’s third biggest steelmaker.
 
Their multi-billion-dollar projects, along with Iron Ore Co. of Canada’s ongoing expansion, a fast-track project by Alderon Iron Ore Corp. with Hebei Iron & Steel Group, China’s biggest steelmaker, and many smaller developments could triple the region’s annual capacity to 150 million tonnes.
 
Cliffs Natural Resources Inc., which bought Consolidated Thompson for $4.9 billion last year to merge it with Wabush Mines, is also expanding. Century Iron Mines Corp. and Champion Minerals Inc. are working on key properties. though Oceanic Iron Ore Corp.’s Ungava project is remote. Another contender is Labrador Iron Mines Holdings.


 
Also, ArcelorMittal Canada is planning to raise annual capacity at its Mt. Wright mine in Quebec from 14 million tonnes to 24 million tonnes and its Port Cartier pelletizing plant will double to 18.5 million tonnes.
 
Quebec-Labrador would still be far behind Australia where BHP Billiton and Rio Tinto Group are expanding massively and behind Brazil where Vale SA means to hold its global industry leadership. But a boom has already been created across a vast region of Eastern Canada that suffered from rock-bottom iron ore prices from 1980 to 2005 – when Asia’s economic miracle began to blossom.
 
The pace at MillenniumTata’s project is picking up rapidly, says CEO Dean Journeaux, and the partners are planning a $1 billion pelletizing plant at Sept Îles (Pointe Noire). Iron ore is shipped as a fine or coarse powder or is converted into tiny pellets to meet steelmakers’ specific needs.
 
Millennium’s $4.4 billion Taconite project straddles the Quebec-Labrador border 25 to 50 kilometres north of Schefferville, the railhead. The LabMag property in Labrador and KeMag on the Que-bec side make up Taconite’s current resource, but several others nearby are adding more. Millennium has 35 professionals in Montreal on planning and engineering, while at the minesites drilling teams are completing the winter program.
 
For the rest of this article, please go to the Montreal Gazette website: http://www.montrealgazette.com/business/Huge+mining+projects+works/6513364/story.html