Iron Ore Company of Canada investing $79M to expand remote Labrador mine

26 Feb 23 Feb, 2017

The Iron Ore Company of Canada (IOC) is moving forward with a $79 million expansion project at its sprawling iron mine outside Labrador City, N.L. IOC has spent several years surveying, planning and securing the regulatory approvals for the pit and says it will reduce operating costs, increase production and extend the life of its overall operation. IOC expects to boost its production capacity to 23 million tonnes by the time it completes the expansion in the second half of 2018 and it plans to begin construction within the next few months.

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