The province remains confident in the Kami iron-ore mining project in Labrador West.

In April, British Columbia-based Alderon, lost its interest in the Kami project after defaulting on a US $14-million loan to Sprott Resource Lending.

Assistant Deputy Minister of Natural Resources, Alex Smith says government believes the project is a good one, and they expect the project will be sold once a receiver is in place.

He says for now it’s a confidential business matter, and the Department does not have a lot of information on the process. They remain optimistic that another company will take on the project, according to Smith.