Executive Council
Natural Resources
February 23, 2017
Supporting Growth in the Mining Sector
Provincial Government Welcomes Sanction of Wabush 3 Project
The Provincial Government is welcoming today’s announcement by the Iron Ore Company of Canada (IOC) that it will proceed with the Wabush 3 project following the approval of a $79 million investment by the by the IOC Board of Directors.
“We welcome today’s announcement by IOC of the sanctioning of Wabush 3. The announcement aligns with the actions that we are undertaking through The Way Forward to strengthen Newfoundland and Labrador’s economic foundation. Our government continues to focus on the strong potential for growth in our mining sector, and the Wabush 3 project is important to the future success of IOC, Labrador West and the entire province.”
- The Honourable Dwight Ball, Premier of Newfoundland and Labrador
Wabush 3 will be a conventional open pit mine that will allow flexibility in operations and provide a new source of iron ore to extend the operating life of its Carol Project. The mine can produce up to 23.3 million tonnes of pellets and iron ore concentrate annually. IOC has long-term plans to produce beyond the year 2079.
“We have worked with IOC to ensure approvals and permitting is in place for Wabush 3, and we are very pleased to see that the project has been sanctioned. The mining industry remains a valuable contributor to our economy and our government is laying the foundation for well-planned and well-managed resource development in Newfoundland and Labrador.”
- The Honourable Siobhan Coady, Minister of Natural Resources
The Provincial Government released the Wabush 3 Open Pit Mine Project from the Environmental Assessment process in 2015 and construction is expected to start in the second quarter of 2017.
“This is very good news for Labrador West. It shows that Rio Tinto has confidence in the future operations of IOC and the region. The iron ore industry is very cyclical and moving this project forward goes a long way to ensuring the sustainability of IOC in both the good times and the bad times.”
- Graham Letto, MHA for Labrador West
The Way Forward: A Vision for Sustainability and Growth in Newfoundland and Labrador guides Provincial Government actions to achieve greater efficiency, strengthen the province's economic foundation, enhance services, and improve outcomes to promote a healthy and prosperous province.
QUICK FACTS
- The Provincial Government is welcoming today’s announcement by the Iron Ore Company of Canada (IOC) that it will proceed with the Wabush 3 project following the approval of a $79 million investment by the IOC Board of Directors.
- Wabush 3 will be a conventional open pit mine that will allow flexibility in operations; and provide a new source of iron ore to extend the operating life of its Carol Project.
- The Provincial Government released the Wabush 3 Open Pit Mine Project from the Environmental Assessment process in 2015 and construction is expected to start in the second quarter of 2017.
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Media contacts:
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Michelle Cannizzaro Director of Communications Office of the Premier 709-729-3960 michellecannizzaro@gov.nl.ca |
Diana Quinton Director of Communications Department of Natural Resources 709-729-5282, 631-8155 dianaquinton@gov.nl.ca |
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Sabrina Hunt Constituency Assistant to Graham Letto MHA for Labrador West 709-944-4881 sabrinahunt@gov.nl.ca |
2017 02 23 3:05 p.m.