New hope for Kami iron ore project, with Labrador MHA cautiously optimistic – by Terry Roberts (CBC News Newfoundland-Labrador – November 18, 2020)

https://www.cbc.ca/news/canada/newfoundland-labrador/

An agreement that will see the Kami proposed mining site in Labrador sold to a company with an operational mine across the border could see raw ore head to Quebec for processing, says MHA Jordan Brown.

Brown, a New Democrat who represents Labrador West in the House of Assembly, said he is cautiously optimistic but worried that economic benefits from what mining experts call a world class iron ore project may not stay in the region.

“This close proximity does bring some concern that some benefits will not come back to the people of Labrador, and may potentially benefit Quebec workers over Labrador workers,” Brown said.

Brown was reacting to news that a bid by Australia-based Champion Iron Limited to purchase the high-grade iron ore project near Wabush was approved this week by the Supreme Court of Newfoundland and Labrador.

This followed a competitive bidding process overseen by Deloitte Restructuring Inc., the receiver overseeing the disposal of assets formerly held by Alderon Iron Ore Corp.

For the rest of this article: https://www.cbc.ca/news/canada/newfoundland-labrador/kami-sale-champion-1.5804792

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