Decision To Approve Canada’s Iron Mine Hinges On Steel Demand

Reuters reported the decision to move ahead with a massive iron ore project in Canada’s far north may hinge on global steel demand.

As quoted in the market news:

The Mary River project, owned by a subsidiary of steelmaker ArcelorMittal, was given the green light late last week by regulators in the territory of Nunavut after a four-year environmental review.

The approval is the first major milestone for the challenging development, located in a remote and environmentally sensitive region of the Canadian Arctic.

Click here to read the full Reuters report.