Labrador Iron Mines is a company dedicated to mining iron ore and advancing direct shipping iron ore projects, particularly in the Schefferville Projects based in the Labrador Trough region. The projects include the James Mine, adjacent Stage 1 deposits, Silver Yards processing facility, the Stage 2 Houston property, and the Stage 3 Howse property through a joint venture with Tata Steel Minerals Canada Limited. The company benefits from established infrastructure such as roads, hydro power, rail service, a local airport, and town facilities, with a direct railway connecting its projects to the Port of Sept-Iles on the Atlantic Ocean. Labrador Iron Mines has completed three operating seasons and sold 23 shipments totaling 3.6 million dry tonnes of iron ore into the Chinese spot market.
Founded in 2007, the company operates in the Renewable Energy industry. The last investment was a $71.63M Post-IPO Equity investment at 29 February 2012, with key investors including Raymond James, Canaccord Genuity Group, RBC Capital, Paradigm Capital, Octagon Capital Partners, Jennings Capital Inc, Scotia Capital, and Haywood Securities Inc. Currently, Labrador Iron Mines is pursuing additional financing and debt restructuring while working on developing the Houston Mine, preparing for construction and mining operations in the future.
