IRON ORE: Alderon’s Kami project passes environmental scrutiny

LABRADOR – The federal environment minister has given the nod to the Kami iron ore project in the Labrador Trough, saying it is unlikely to cause significant adverse environmental effects as long a mitigation measures are carried out. The project belongs to Alderon Iron Ore Corp. of Vancouver.

A month ago the Newfoundland and Labrador cabinet made the same determination.

Alderon is now ready to being construction for an 8-million t/y operation to start up in Q4 2015. The Rose deposit contains proven and probable reserves of 668.5 million tonnes grading 29.5% Fe. Capital cost is pegged at US$1.27 billion, and operating costs at US$42.17 million (loaded at Port of Sept-Iles, QC).

More information is posted at AlderonIronOre.com.