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Building Shareholder Value from Iron Ore

Exploring Base Metal and Iron Properties in Western Labrador, Central Newfoundland and Northeastern Quebec: Featuring over 5.0 Bt of Iron Ore Resources in the Fermont Property Claim Blocks

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Re: Champion Minerals Drilling at Lac Moire Property Identifies Significant New Iron

in response to

Champion Minerals Drilling at Lac Moire Property Identifies Significant New Iron

kim

posted on May 22, 2011 02:06PM

UPDATE 2-ArcelorMittal to spend C$2.1 bln on Quebec mining

Fri May 20, 2011 6:12pm GMT

* To invest in Mont-Wright mine and Port-Cartier assets

* Expansion to create 8,000 jobs in construction phase

* To create over 900 permanent jobs once plan complete

By Euan Rocha

TORONTO, May 20 (Reuters) - The world's largest steelmaker, ArcelorMittal (ISPA.AS: Quote), said on Friday it will spend C$2.1 billion ($2.2 billion) to expand its iron ore mining operations in Quebec, as it moves to secure supplies of the steelmaking ingredient.

ArcelorMittal said it plans to expand its Mont-Wright iron-mining complex in northeastern Quebec and its industrial complex at Port-Cartier on the Gulf of St. Lawrence.
....
What does this news mean to champion ?

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