Vancouver, British Columbia-based Canadian
iron ore exploration company Alderon Resources Corporation has announced that the feasibility study on the 100 percent owned Kamistiatusset (Kami)
iron ore project in western Labrador in northeastern
Canada has been completed.
The company is now ready to start preliminary works at the project. Alderon expects to receive the relevant permits by the end of 2013 and to start construction immediately, with initial production scheduled for the fourth quarter of 2015. Total capital expenditures are estimated at $1.27 billion.
The initial production will be 8 million mt per year which may be increased to 16 million mt per year after the commencement of commercial production.