Labrador Iron Mines Lowered Exploration Budget

Base Metals Investing

Reuters reported Labrador Iron Mines Holdings Ltd (TSX:LIM) said it lowered its exploration budget for the year as a decline in iron ore prices forces it to cut costs.

Reuters reported Labrador Iron Mines Holdings Ltd (TSX:LIM) said it lowered its exploration budget for the year as a decline in iron ore prices forces it to cut costs.

As quoted in the market news:

The exploration program for the year has been cut to C$5 million from the original budget of C$8.6 million. The miner also deferred capital expenditure relating to its Silver Yards processing plant and Houston deposits in Quebec.

Click here to read the full Reuters report.

The Conversation (0)
MARKETS
COMMODITIES
CURRENCIES
×