Labrador Iron Mines Holdings Limited (LIM:CA)

Labrador Iron Mines (LIM) is Canada's newest iron ore producer. We own a diversified portfolio of direct shipping (DSO) iron ore operations and projects located in the prolific Labrador Trough. Initial production commenced at our 100%-owned James Mine in June 2011 and we recorded the sale of 400,000 tonnes of iron ore for the year. The first full production season commenced on April 2, 2012 and we are targetting an annual sales forecast of 2.0 million tonnes of iron ore.
LIM is focused on a strategic and robust growth plan arising from our portfolio of 20 iron ore deposits in Labrador and Quebec, all within 50 kilometres of the town of Schefferville. The area is connected by a direct rail link to the Port of Sept-Iles, Quebec, and hosts additional infrastructure including an airstrip and hydro power. Starting with the James Mine and leading to the development of the exciting Houston flagship deposit, our objective is to provide shareholders with long-term value as we ramp up production and sales towards 5.0 million tonnes by 2015.



We are currently the only independently-owned iron ore producer listed on the Toronto Stock Exchange and trade under the symbol LIM.

Schefferville Area Projects

Our Schefferville Projects are located in the western central part of the iron-rich Labrador Trough, one of the most prolific iron ore producing regions in the world. The Schefferville area has a tradition in iron ore production that dates back to the early 1950s. LIM's 20 direct shipping (DSO) properties containing hematite lump and sinter fine ores, all within a 50 kilometre range, are part of the original IOC Schefferville operations and form part of the 400 million tons of historic reserves and resources identified by IOC. Today, the area is home to established infrastructure, which includes the town, airstrip, hydro power and railway service to the Port of Sept-Iles, Quebec.

LIM's mine operations involve the extraction of iron ore by developing open pit mines, starting with the James Mine, which commenced initial production in June 2011. Full scale mining operations are now underway.
LIM continues to make good progress in advancing the Schefferville Projects with ongoing active programs, including drilling, metallurgical testing, environmental, permitting, marketing, engineering, purchasing and construction.At present, LIM has confirmed NI 43-101 compliant indicated resources of over 39 million tonnes on the James, Redmond, Denault and Houston deposits including NI 43-101 compliant measured and indicated resource of 22 million tonnes on the Stage 2 Houston deposit. In addition to these deposits, the remaining seventeen deposits have a total combined historical resource estimated to be approximately 125 million tons based on work carried out by IOC prior to the closure of its Schefferville operations in 1984. The historical estimate was prepared according to the standards used by IOC and, while still considered relevant, is not compliant with NI 43-101. The Company plans to bring the historical resources on these other deposits into NI 43-101 compliant status sequentially in line with their intended phases of production.