Agreements will boost iron ore volumes
February 24, 2010
The Port of Sept-Îles said it has signed rate agreements with Labrador Iron Mines Limited and New Millennium Capital Corp., clearing the way for direct-shipping iron ore to the port’s Pointe-Noire facilities.
“These two new agreements will have a major impact on the port’s growth and development since they will eventually represent a combined total of an additional seven million tonnes when operations are in full swing a few years from now,” said Pierre Gagnon, president and CEO of the Sept-Îles Port Authority.
The two companies are currently developing direct-shipping iron ore projects in Schefferville and Labrador.
“These two agreements, along with the one signed in October with Consolidated Thompson Iron Mines Ltd., demonstrate how fast the iron industry is growing on the North Shore and in northern Quebec and Labrador,” said Carol Soucy, chairman of the Sept-Îles Port Authority. “The Port of Sept-Îles is proud to be a part of that development and to work closely with these new mining companies to help them carry out their projects.”
The Port of Sept-Îles is one of North America’s leading iron ore ports. The port authority said the port will soon become Canada’s second largest in terms of annual volume, with more than 35 million tonnes handled.
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