Canadian National Railway Halts Study Into $5B Rail Line to Quebec Iron Ore Belt

Reuters reported that the Canadian National Railway Co has put on hold a feasibility study of constructing a rail line that will allow the transportation of iron ore from northern Quebec to port, as miners delay projects because of low prices.

As quoted in the market news:

CN, Canada’s biggest railroad, last year started looking into building a 800 kilometer (500 mile) rail line to the isolated region that is so rich in iron ore deposits it could turn Canada into the world’s third biggest producer.

Click here to read the full Reuters report.

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