Labrador Iron Mines Schefferville Update

Labrador Iron Mines Holdings Limited (TSX:LIM) reported an update of its Schefferville area iron ore mining operations and its annual general meeting.

As quoted in the press release:

The Company commenced its first full season of production in April 2012. In the operating year to August 31, seven shipments of iron ore have been sold, totalling ~1.2 million wet tonnes. This is a significant achievement for the Company, representing a 3-times increase over LIM’s iron ore sales for all of 2011.

The James Mine re-commenced full-scale operations in April 2012 and has consistently achieved its planned mining rate of 28,000 tonnes per day (ore and waste) in the operating year to August 31. Complementing LIM’s ramp up in production, railway volumes have also tripled from April to August with four trains currently in operation. LIM achieved a major milestone on August 23, as its one millionth tonne of iron ore for the year was railed to the Port of Sept-Îles.

Click here to read the Labrador Iron Mines Holdings Limited (TSX:LIM) press release.