Business
Trading Statement - Labrador Iron receives Gov...
Trading Statement - Labrador Iron receives Gov....
About this update from Anglesey Mining Plc
[{"type":"text","content":"\n 16 February 2010 LSE:AYM\n\nLabrador Iron receives Government environmental approval\nand project release for DSO iron ore operations\n\nAnglesey Mining plc is pleased to report that its 50% owned associate company Labrador\nIron Mines Holdings Limited (TSX: LIM) announces that it has received final\nenvironmental approval and project release from the Government of Newfoundland and\nLabrador for its Schefferville Area direct shipping iron ore project in Western Labrador.\n\nOn 12 February 2010 the Minister of Environment and Conservation informed LIM that,\nunder authority of Section 67(3)(a) of the Environmental Protection Act, the Lieutenant-\nGovernor in Council has released the Schefferville Area Iron Ore Mine from further\nenvironmental assessment, subject to a number of terms and conditions.\n\nLIM Chairman and Chief Executive Officer John Kearney commented, \"Receiving\nproject release from the Government of Newfoundland and Labrador represents another\nmajor step in the Company's development and start-up plans and has come at a time\nwhen iron ore demand and pricing have regained their upward momentum. We would\nlike to acknowledge the encouragement and support we have received for this project\nfrom the Province of Newfoundland and Labrador.\"\n\nThe release may be inspected on the Environmental Assessment Bulletin on the website\nof the Department of Environment and Conservation at http://www.gov.nl.ca/env.\n\nThis project release will allow LIM to complete the permit and license application\nprocess and regulatory approvals required for the construction of mine infrastructure and\nproduction facilities to facilitate the commencement of iron ore production at the James\nand Redmond deposits planned for summer of this year. The lump and fines that LIM\nplans to produce will be the first direct shipping iron ore (\"DSO\") mined in Canada in\nalmost three decades.\n\nThe Project will result in considerable socio-economic benefits accruing to the Province\nof Newfoundland and Labrador, creating employment and business opportunities and\ncontributing substantially to the economy. LIM has entered into an Impact Benefit\nAgreement with the Innu Nation of Labrador and it is expected that approximately 25%\nof total employees on the project will be from Aboriginal First Nations.\n\n\nMilestones Achieved\n\nOver the last quar...