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Alderon Iron EIA for Kami Iron Ore Project

Mining News - Published on Thu, 07 Dec 2017

Image Source: GlobeNewswire
Investing News reported that Alderon Iron Ore released an update to the independent Economic Impact Assessment of the Kamistiatusset Iron Ore Project, located in the Labrador Trough, Canada’s premier iron ore district. The EIA outlines significant economic benefits and positive implications for the economies of Newfoundland and Labrador, Quebec and Canada.

Mr Mark Morabito chairman and CEO of Alderon said that “China’s bid to reduce harmful emissions is driving an increase in domestic steel mills switching to high-grade iron ore products with fewer impurities.”

He added that “For the type of iron ore concentrate that the Kami Project will produce (in the order of 65% Fe), there is already a significant spread to the normal Platts 62% iron ore index price, that, on September 1, 2017, was pegged at USD 23.50 per tonne; this spread has widened over the last 18 months and prices for high-grade ore are expected to continue to increase as environmental regulation becomes more stringent.”

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Posted By : Rabi Wangkhem on Thu, 07 Dec 2017
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