IOC Developing Wabush 3 Open Pit
Wabush 3 is a new pit that will be developed within IOCís existing mine operations to extend the life of the mine, reduce operating costs, and increase production of iron ore concentrate and pellets. The pit will be developed adjacent to the existing Luce pit. The government of Newfoundland and Labrador has released the Wabush 3 project from the environmental assessment process, and construction is expected to start in the second quarter of 2017.
First ore from production mining of the Wabush 3 pit is scheduled for the second half of 2018 and will help IOC ramp up its annual capacity from 18 million metric tons per year (mt/y) to 23 million mt/y. Wabush 3 will be fully integrated into IOCís overall Labrador City operations, utilizing existing maintenance, ore delivery, processing and tailings management facilities, as well as other aspects of IOCís current infrastructure and activities in the region.
IOCís Labrador City operations produce iron ore concentrate and pellets for transport to the companyís port facilities at Sept-Iles, Quebec, via its wholly- owned, 418-km-long Quebec North Shore and Labrador Railway. From Sept- Iles, the products are shipped to markets throughout North America, Europe, the Middle East and the Asia-Pacific region. IOCís 2016 production totaled 9.8 million mt of pellets and 8.4 million mt of concentrate.