Nunavut iron producer proposes big changes for Mary River – Nunatsiaq News
November 05, 2014
Baffinland seeks expansion of Milne Inlet, winter shipping, ramped up iron ore volumes
Hammered by tumbling iron ore prices, Baffinland Iron Mines Corp. wants regulators to re-write the rules for its Mary River iron mine to allow the shipment of up to 12 million metric tonnes of ore from Milne Inlet for up to 10 months each year.
That’s because, right now, Baffinland can’t raise the $5 billion it needs to pay for a Steensby Inlet railway and port.
At the same time, Baffinland says iron ore is a high-volume, low margin business.
