Mining is Front and Centre at Labrador Resource Investment Roundtable

Key players in the province’s mining industry are meeting today in Wabush to discuss investment in Labrador’s mining sector. The Honourable Tom Marshall, Minister of Natural Resources, is hosting this morning’s panel discussion.

“The roundtable is an ideal forum to explore development opportunities in the region, and to discuss how best to secure and attract additional investment to Newfoundland and Labrador,” said Minister Marshall. “Premier Dunderdale’s vision for this province includes harnessing the immense potential of our resource sectors to ensure we build a strong, vibrant Newfoundland and Labrador for our children and our grandchildren. By bringing together these industry leaders, our Premier has once again shown her keen awareness of the benefits all Newfoundlanders and Labradorians will reap by developing our resource sector in a responsible manner, together with our industry partners, throughout the province.”

Present at today’s roundtable are representatives from IOC, Cliffs Natural Resources, Labrador Iron Mines, Tata Steel Minerals Canada, Alderon Iron Ore, and Century Iron.

Most of the advanced stage new iron ore prospects in Labrador are now being financed by foreign investment. Continuing development in this sector is linked to investment attraction.

“With the strong leadership of our Premier, we are ensuring Labrador is strategically positioned as a central place for companies to invest, whether domestic or foreign,” said Minister Marshall. “Through this roundtable, we will be able to work together to ensure continued growth and success of the region and industry. We are having a frank discussion with companies about the strengths that exist in the resource sector in Labrador and are discussing ways to minimize obstacles, particularly as they relate to sourcing investment for development. The discussions we are having today will inform our trade mission to China next week and allow us to seize the potential that exists in the Labrador mining sector.”

The roundtable continues this afternoon. Premier Dunderdale, Minister Marshall and Minister McGrath will be available to the media following the conclusion of the closed roundtable at 2:30 p.m. in the main floor boardroom, Wabush Hotel.

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Media contact:
Diana Quinton
Director of Communications
Department of Natural Resources
709-729-5282, 631-8155
dianaquinton@gov.nl.ca

2013 06 14                   10:30 a.m.