Company:Alderon Iron Ore Corp.
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| Type | Public |
|---|---|
| TSX: IRON AMEX: AXX | |
| Industry | Mining, Iron Production |
| Headquarters | Canada, Vancouver , British Columbia |
Key people | Tayfun Eldem, (President & CEO) Mark Morabito, (Executive Chairman) Danny Williams, (Advisor) |
| Products | Iron ore, Iron concentrate |
| Website | www.alderonironore.com |
Alderon Iron Ore Corp. (formerly Alderon Resource Corp.) is a Vancouver , British Columbia based company focused on the exploration, development and mining of an iron ore property in the southern Labrador Trough geological belt in southwestern Newfoundland & Labrador, near the Quebec border.[1] In 2010, Alderon Iron Ore acquired the rights to the Kamistiatusset ("Kami") property in the Labrador Trough. In 2013, Alderon concluded an agreement with China's leading steel manufacturer, Hebei Iron & Steel, whereby Hebei invested $182.2 million and will purchase 60% of the mine's annual production for a near 20% stake in Alderon and 25% interest of an iron ore property.[2][3][4] In January 2014 the Kami Project was released from Provincial Environmental Assessment.
In February 2017 Alderon released an updated Preliminary Economic Assessment on the Rose Deposit of the Kamistiatusset Iron Ore Property in Western Labrador. The PEA highlighted a net present value of US$1.377 billion and internal rate of return of 23.8%. Anticipated capital costs to develop the project were estimated at 987.5 million with an estimated mine life of 24 years. [5]
References
- ↑ Kozar, Robin B. (25 April 2011). "Alderon Resource Corp. Location & Experience Point to Iron Ore Development Success on the Labrador Trough". RBC Capital Markets - Equity Research: 16–17.
- ↑ Alderon to partner with China steel maker Hebei - The Globe and Mail
- ↑ Alderon: Pillars of Production | Financial Post
- ↑ HBIS Gains 25% Interest in Canada Kami Iron Ore Project
- ↑ "Alderon Iron Ore Releases Updated Preliminary Economic Assessment and Announces Re-Boot of the Kami Project". https://www.juniorminingnetwork.com/junior-miner-news/press-releases/1657-tsx/adv/29782-alderon-iron-ore-releases-updated-preliminary-economic-assessment-and-announces-re-boot-of-the-kami-project.html. Retrieved 2017-02-28.
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