Century Iron Mines Corporation is an exploration company with four groups of properties located in James Bay (Quebec) and the Labrador Trough iron ore camp (Newfoundland and Labrador).
Century Iron is benefiting from the interest of Chinese steel companies in diversifying their iron ore supplies. Two Chinese giants, WISCO and Minmetals, have made a combined $73 million investment. A further $120 million is expected to come from WISCO shortly for exploration investment.
The Chinese investors intend to purchase up to 70% of Century Iron’s future production, and could invest up to $850 million in equity and assist in securing up to $3.5 billion in debt for the construction of the mine at Duncan Lake.
On February 3 we issued our Initiating Report on the Company – read it here: Century Iron.
We have also posted Perspectives highlighting the Company’s latest announcements – read them HERE.
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