Baffinland Iron Mines Corp. is likely planning a further expansion of its Mary River iron mine that would see iron ore shipments through its Milne Inlet port increase to 18 million tonnes a year.
That information is contained in a credit report on Baffinland, prepared by Moody’s Investors Service, dated June 2020 and obtained by Nunatsiaq News.
“Baffinland plans to expand the Mary River mine to a capacity of 18 Mtpa [18 million metric tons, or tonnes],” says the report, which repeatedly refers to a “Phase 3” expansion.
That’s a larger production figure than that provided to stakeholders and regulators by Baffinland in its current “Phase 2” proposal, which the Nunavut Impact Review Board is still assessing, that is, 12 million tonnes a year.
When Nunatsiaq News asked if the company does indeed plan a further production expansion, Baffinland did not explicitly deny or confirm the Moody’s report.
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