Quebec Iron Ore shipping first vessel of high quality Canadian iron ore from Sept-Îles to Asia
The first shipment of Bloom Lake Iron Ore Mine high-quality iron ore is underway following the arrival of the MV Magnus Oldendorff at the Port of Sept-Îles March 25.
The first shipment to Asia involves up to 200,000 wet metric tons of high-grade 66 percent Fe iron concentrate, part of the tonnage transported by rail to the port over the last month from Quebec Iron Ore’s (QIO) Bloom Lake mine located near Fermont, Quebec.
The loading of the MV Magnus Oldendorff at the Pointe-Noire terminal completes a historic milestone for the company and the Port of Sept-Îles, as it represents the first vessel loading at the new terminal and marks the inauguration of the new conveyor linking the stockyard to the new terminal.
For the company, this first shipment demonstrates QIO’s ability to deliver high-quality product to global markets. As part of this capability, in addition to owning specialized railcars for the transportation of iron ore, Bloom Lake has access to a fully operational rail loop onsite, as well as access to substantial and modern rail and port storage and handling infrastructure between Fermont and Pointe-Noire.
“The first vessel is being loaded almost one month ahead of our original schedule with a high-quality iron ore product fully in line with specifications and with our pilot plant test work. This is evidence of the professionalism of all employees involved and the hard work of our stakeholders, as well as of the world-class potential of the project,” said Executive Chairman and CEO of QIO and Champion Michael O’Keeffe.
The first shipment is a positive start for a mine that is forecast to generate more than C$15.1 billion in revenue over the next 20 years, underlining Bloom Lake’s potential to be one of the region’s leading long-life iron ore mines and a major contributor to both the Quebec and Canadian economies. The QIO logistics strategy ensures long-term access to some of the world’s largest consumers of iron ore for Bloom Lake’s high-quality product.
The decision to restart production at the Boom Lake Mine was announced November 15, 2017 and operations recommenced at the plant February 16 ahead of schedule and within budget. With a CAPEX of C$326.8 million, including C$157.2 million spent on upgrades ahead of the mine restart, Bloom Lake is a large-scale project which is set to bring about a new era of prosperity to Quebec’s North Shore region.