Iron Ore goes bust in Labrador West, once booming in production – by Terry Roberts (CBC The Current – January 23, 2015)

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The fall in demand for Iron Ore is turning life upside down in the part of Labrador they once called “Mini Fort Mac”. Today we head to Labrador West, Canada’s capital of Iron Ore, where they know a thing or two about booms and busts… but say they’ve never seen one like this before.

A sudden and dire economic bust is happening in Labrador West. It’s an area that includes Labrador City and the town of Wabush.

And up until recently, it was booming. In fact its nickname was Mini Fort McMurray… or “the Iron Ore Capital of Canada.”

Iron Ore is a principal ingredient in making steel. But with China’s economy slowing down, some resource economies are taking a hit…. and the hit comes especially hard in single industry towns, like those in Labrador West.

CBC reporter Terry Roberts took a trip up to Lab West. And he joined Anthony Germain in our St. John’s studio.

Click here for the original source: http://www.cbc.ca/thecurrent/episode/2015/01/23/iron-ore-goes-bust-in-labrador-west-once-booming-in-production/