Innu Nation inks iron ore deal with Labrador Iron Mines

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

31 Jul 2008

CBC News reported that Innu Nation has signed an agreement with Labrador Iron Mines planning to resume mining on long dormant iron deposits near the Quebec Labrador boundary. Mr Mark Nui grand chief of the Innu Nation said that the deal is the first time his people will benefit from mining in western Labrador. He added that "The government has collected revenues out of i t through taxes and we haven't benefited. We've had zero. This business of being passive observers to what's happening on our lands has to stop."
Mr Nui said the Innu Nation will insist that mining exploration or exploration work will need to come through the Innu Nation.
It may be noted that Labrador Iron Mines plans to extract about 3 million tonnes each year, as early as 2009, from a site near Schefferville.

Source: Steel Guru