How it started
History
The Schefferville region had iron mines in the 1950s.
A rail line was constructed from Schefferville, south approximately 600 kilometres (370 mi) to Sept-Îles, Quebec, a seaport on the Gulf of St. Lawrence.
Labrador Iron Mines first shipments, in April 2012, were the first shipments in thirty years.
In January 2013, the firm announced that it had entered into an agreement with a syndicate of underwriters led by Canaccord Financial for a C$25.2-million equity financing.
From Wikipedia’s article on Labrador Iron Mines, shared under CC BY-SA 4.0.2