LIM, which is 33% owned by Anglesey, is engaged in the development of 20 iron ore deposits in western Labrador and north-eastern Quebec near Schefferville.
Anglesey reported that 400m of ore had been exposed and approximately 100,000 tonnes of iron ore has been stockpiled to date.
The company also announced that its Silver Yards processing plant had now been commissioned. It said that “All instrumentation and controls will be fully operational by the end of May. Hot commissioning, with the first ore being fed through the plant, is expected to commence in the first week of June.”
The company is planning to upgrade and expand the Silver Yards plant in subsequent phases to increase recoveries, treat lower grade and higher silica ores and to increase throughput and output.
The second phase, which will see the addition of a new lump ore secondary screen and a fines recovery system, is planned to be completed during the summer.
The company also said that an extension to LIM’s rail spur line and other track work at Silver Yards has been completed.
The company in a statement to the London Stock Exchange said that “LIM has purchased a fleet of 400 previously-used railcars of which the first consignment of 120 rail cars have been delivered to the Port of Sept-Iles, where inspections and modifications are being carried out.”
The company has signed a rail services agreement with Western Labrador Rail Services to provide, operate and maintain up to five locomotives which will be used to haul LIM’s iron ore from Silver Yards.
The company said it is expected that rail shipments of iron ore from Silver Yards to the Port of Sept-Iles will begin this month.
The company has also signed a memorandum of understanding with the Port of Sept-Iles for the use of the Pointe aux Basques terminal for handling and ship loading of its iron ore for the coming year. (sourced Walesonline)