Baffinland Iron Mines.
TSX/BIM
I think about $160 million was mentioned at one point. Cannot say for sure. It is mostly port and infrastructure costs. Road inland is a fair distance too though cheap, and short season and isolation driving up costs is part of it. It can be done. Polaris, Marmorilik and Nansivik were built in the same neck of the woods or in the same conditions more or less. The idea is to direct ship lump ore direct to Europe. I am not sure how much high grade lump they have and how much they may have to uprade in the future. One thing they have to do is separate magnetite from hematite. They say they can do that in mining. One figure that stuck in my mind is that they have 24 million tons of the direct mine and ship stuff. Drilling is finding more HG I am told. If they need at any future point to do upgrading, then it is more problematic, as there are no coastal plants for that established nearby.
Iron is a good idea right now with Asian demand soaring. I believe the Aussies have that in mind as well. Their iron and coal is mostly west coast and rather isolated inland.
I know of a good iron deposit that could feed demand and is high grade for its type. Wish I were better heeled to take a look at it. During good price times, Iron can make a lot of money.
EC<:-}
