The province has put out the call for companies interested in developing the Julienne Lake iron ore deposit in western Labrador.
The formal invitation for expressions of interest was announced yesterday.
It comes amid growing demand for critical minerals, such as iron ore, which are expected to play a key role in the supply of so-called green or decarbonized steel.
(Photo via Gov NL. Aerial image of the Julienne Lake deposit looking south.)
The Julienne Lake site holds a large, undeveloped iron ore deposit about 25 kilometres from the towns of Labrador City and Wabush.
Industry Minister Andrew Parsons says it “has the potential to support a ‘high-purity’ iron ore mining operation for decades which could result in significant economic and employment opportunities for the province, particularly Labrador.”
Specifically, the deposit is estimated to include total resources of roughly a billion tonnes, with potential percentages of iron ore in the range of 34 per cent.
The first step would likely be a study on whether such a project is even feasible.
Submissions are due by December 6.
