Labrador City -
No one is more pumped about the newest iron ore mine at Bloom Lake than Consolidated Thompson's (CLM) executive chairman, Brian Tobin.
The former premier and former federal minister says the new mine development on the Labrador-Quebec iron ore trough sends a positive message that there are still very good opportunities for developing new mines in the area.
"That's the real positive message, because it wasn't that long ago when people looked at Labrador West - back a number of years ago ... and it wasn't all that positive."
Tobin said it's noteworthy CLM was able to successfully raise $800 million in a time of global uncertainty.
"With $300 million of that coming from China, it opens up new markets for Labrador trough iron ore going into China, Korea, Japan - we are in all three markets," he said in telephone interview from Montreal.
The new mining operation, he says, is about forming partnerships with other industries and working with other mining operations.
For example, he said the railway will be available to other users if and when other mining projects are brought to fruition.
"We intend to have an open door to assist and to help to facilitate other developments within the region, so I hope that is the most positive thing that comes out of what we've done. This is still a land of opportunity and a place that should attract significant capital and create new jobs."
Tobin has visited the Bloom Lake site on a number of occasions.
"It's a pretty powerful picture when you are in a helicopter over this area, "he said.
"You can see the IOC (Iron Ore Company of Canada) facility; then a few miles away, it's our own facility going up, and just beyond that, QCM (Quebec Cartier Mining). ... It's all just a very impressive sight."
The Bloom Lake Iron Ore Deposit is a 640-million-tonne ore body grading approximately 30 per cent iron. It has a 34-year mine life, based on a feasibility study completed in April 2007.