LabMag Iron Ore Project

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One of the largest undeveloped iron ore deposits in the world is located here along the Howells River in the Millenium Range. New Millenium Capital Corp has plans to produce 15 million tonnes of iron ore concentrate per year. The company estimates there are well over 3.5 billion tonnes of ore reserves with an average grade of 29.6% iron. This ore is lower grade than the very high grade Direct Shipping Ore (DSO) near Schefferville, but the tonnage is immense.

The plan is for the ore to be concentrated at the mine site and transported via a new 230-km pipeline to a pelletizing plant near Emeril, Labrador. Electrical power for the mine site and pelletizing plant will originate at Churchill Falls, Labrador. Pellets will be transported by existing railway lines to a year-round shipping facility at Pointe-Noire, on the Baie des Sept-Îles, Québec. LabMag iron ore pellets will then be available to be shipped via ocean-going and Seaway vessels to global markets.