Consolidated Thompson Iron Mines Thursday announced that it has received written authorization from the Minister of Natural Resources of the Government of Newfoundland and Labrador to increase the transport of iron ore concentrate over the Bloom Lake railway by an additional 8.0 million mt per year, bringing the total tonnage of iron ore concentrate transported by CLM over such railway to 16.0 million mt per year. The Corporation continues to implement its plan to double its capacity for mining operations at Bloom Lake by the end of 2012 and expects to initiate construction work for its new process facilities before the end of this year.
CLM also continues to increase production at the Bloom Lake mine at a steady rate and expects to reach a rate of production equivalent to 90 percent of 8 million mt per annum by the end of 2010. The Corporation anticipates that it will reach a rate of production of 8 million mt per annum in the first quarter of 2011.
Consolidated Thompson Iron Mines Limited is a development and exploration mining Corporation focused on the iron ore mining industry. Based in Montreal, Canada, it has iron ore rich mining properties in the well-known Labrador Trough that spans North-Eastern Québec and Western Newfoundland and Labrador.