IOC going ahead with Wabush 3 mine, construction to begin in spring - CBC News
Posted March 2017
The Iron Ore Company of Canada says the long-awaited Wabush 3 mining project in Labrador West will be going ahead.
The new pit comes with a $79-million investment and should increase the ore output by about five million tonnes per year.
Clayton Walker, chief executive officer and president, said it should also extend the life of the mine by 12 years.
"We're really excited about the announcement," Walker said on Thursday afternoon.
The new pit will rely on much of the existing infrastructure but construction is expected to create about 70 jobs, according to Walker.