The new multi-user deep water dock at the Port of Sept-Îles equipped with two ship loaders as well as two conveyor lines is on time and on budget, with construction scheduled to wrap up in late March 2014. The Port is confident that the project will be delivered on the C$220 million budget, which the Government of Canada invests. |
Alderon Iron Ore Corp., which had agreed with the Port Authority to use the port to ship iron ore, announced that the Port of Sept-Îles' great progress allows its Kami Project development timeline to remain in place with mine construction expected to commence by Q4 (Oct - Dec) of this year and production beginning by the end of 2015. The Kami Project is being jointly developed by Alderon and China's Hebei Iron & Steel Group. The on time completion of the new port facility will provide shipping services for up to 8 million tonnes of iron ore annually based on the agreement.
The Port of Sept-Îles, situated 650 kilometers down river from Quebec City on the North Shore of the Gulf of St. Lawrence on the Atlantic Ocean, is the leading iron ore port in North America. Sept-Îles' port facilities play a vital and strategic role in the operations of many businesses from the region's primary sector including the Quebec and Labrador mining industry. In 2012, the Port's export volume was approximately 34 million tonnes. The Port's annual economic impact is estimated at nearly $1 billion, with some 4,000 direct and indirect jobs. The Port is a large natural harbour, more than 80 meters in depth, which is open to navigation year round.