The Moss Pit has officially opened at the Iron Ore Company of Canada’s Labrador City mine. IOC says the $79-million investment is not a massive hole in the ground yet, but as it is scooped out it will allow the company to speed up production and extend the life of the mine by about 50 years — and at a reduced operating cost.
“It’s been a long time coming. A little over five years,” said Clayton Walker, president and CEO of Iron Ore Company of Canada. Walker said it’s the right time to invest, feeling that support is in place from stakeholders, government, employees, local unions and there’s confidence in the market.
“I’ve been really pleased with how everyone has come back, we got back to work, everyone’s working hard,” he said, referencing the labour-management dispute which started at the mine last winter and stretched into spring. Continue Reading →