They need to secure letters of intent form steel producers. They will mine all year round producing 18mt million tonnes per year. For more watch the large video on the Baffinland site.

http://baffinland.com/MaryRiverProje...

As for securing financing I think they will get it not sure from who. The profits from this mine could easily top 100 billion dollars plus and beyond. So any financier will see excellent returns on their investment.