Labrador Iron Mines Cuts Capital Costs

Globe and Mail reported Labrador Iron Mines Holdings Ltd. (LSE:LIM) is looking at cutting capital costs that don’t hurt key development plans as depressed iron ore prices in China trim its revenue.

As quoted in the market news:

The Toronto-based company missed expectations as it lost $10.6-million in its first quarter as a slowing global economy and high Chinese ore inventories caused a delay in shipments from the Port of Sept-Iles in eastern Quebec. The amount included $9.8-million in amortization charges.