Labrador Iron resumes mining operations in Quebec

Mon Jul 9, 2012 9:42am EDT
 
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(Reuters) - Labrador Iron Mines Holdings Ltd LIM.TO said it resumed mining operations at the Schefferville area in Quebec after local residents lifted a five-day blockade at the end of last week.

The company, which owns 20 iron ore deposits in Labrador and Quebec, said mining operations will now ramp up to a full production rate over the next few days.

There has been no impact to its saleable production target of 2 million tonnes of iron ore for the year, the company said in a statement.

Shares of the company, which began producing from its fully owned James mine in Schefferville last June, closed at C$2.57 on Friday on the Toronto Stock Exchange.

(Reporting by Sandhya Vijayan in Bangalore)