Productive/Progressi... Government in Action

Massive Black Horse Chromite Discovery

Black Horse deposit has an Inferred Resource Now 85.9 Million Tonnes @ 34.5%

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fahrenheit451

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Productive/Progressi... Government in Action

posted on May 05, 2015 03:35PM

Cliffs Natural +11% as Quebec may purchase some Bloom Lake assets• 2:08 PM

Carl Surran, SA News Editor

Quebec's government is prepared to buy a rail line and port facilities that service Cliffs Natural Resources' (CLF +10.8%) shuttered Bloom Lake iron ore mine to pave the way for the operation to reopen under new owners.
The provincial government also is open to buying 20% of Bloom Lake to facilitate a deal, Economy Minister Jacques Daoust says, adding that purchasing the rail and port facilities could lower the mine’s operating costs by as much as $20/ton.
"We’re trying to ensure the survival of the mine," Daoust says, after CLF suspended production at Bloom Lake in January and sought creditor protection for the operation.