Work starts on Wabush 3 project
Work is starting on the Iron Ore Company of Canada’s (IOC) Wabush 3 project, with people and equipment being mobilised this week.
Local Labrador West company Dexter Mining has been awarded the primary earth works contract to build the new mining pit. Dexter Mining will have around 70 people working on Wabush 3 over the course of the project.
IOC chief executive officer and president Clayton Walker said "Having a local company working on the Wabush 3 project is good news for Newfoundland and Labrador.
IOC and Dexter Mining team members at the Wabush 3 Project kick off meeting on 22 June 2017.
"At IOC we have a focus on responsible, long term development and Wabush 3 is an important project for the Labrador West community.
"It will greatly assist us to strengthen the sustainability of our operations, which will benefit future generations in the region.
"We’re really pleased with the strong support from our employees, contractors and stakeholders for this project and it’s an exciting time for everyone to see work starting."
The first ore from production mining is expected in the second half of 2018. Wabush 3 will help IOC deliver on its commitments for a sustainable future by providing an additional source of iron ore to support continued long term operations.
Wabush 3 is a new pit that will be developed adjacent to the existing Luce pit and will extend the life of the mine, reduce operating costs and increase production of quality grade iron concentrates and pellets. The project received approval of a CAD$79 million investment in February of this year.
IOC aims to be the premier mining organization in North America. It is committed to modernizing its assets and operating model to be a lower cost producer of quality grade iron concentrates and pellets for the steel industry.