QUEBEC – Popularity is growing for the creation of a new rail line through the Labrador Trough. The latest to throw its support behind the idea is Champion Iron of Montreal. The company has agreed to participate in the Quebec government’s feasibility study of a new link between the trough and the port of Sept-Iles.
The increased number of iron ore development in the region has new producers needing a means of shipping ores and concentrates to offshore markets.
Quebec, in its 2014-15 budget, has promised $20 million toward the feasibility study. Through the Secretariat au Plan Nord, it is asking mining companies in the region whether they will contribute to the study.
Champion has several iron ore projects in the Labrador Trough. A preliminary feasibility study has been completed on the Consolidated Fire Lake North project near the hamlet of Fermont, QC. It outlines a 20-year mine producing 9.3 million t/y of iron concentrate. The CFLN property has a total resources of 3.6 billion tonnes, add in resources at the company’s other nearby properties and the amount rises to more than 5.3 billion tonnes.
Read the Fire Lake North preliminary feasibility study by clicking here.