Iron Bear is a 100%-owned magnetite iron ore project in the Labrador Trough with a JORC 2012 Mineral Resource of 13.6 billion tonnes at 30.03% total iron. Vale's US$18 million Phase 1 funding supported the completed Pre-Feasibility Study, resource drilling and baseline programs without transferring project ownership. Vale has advised in a draft notice that it will not proceed to Phase 2; Iron Bear's Board expects a final notice to terminate the Development Agreement and unencumber the project.
- Country
- Canada
- Commodity
- Fe
- Stage
- Pre-Feasibility