• Data Access
  • Your Email  
  • Your Email  
Keep me signed in.
Forgot your password?
Close
  • Forgot Your Password?
  • Enter the email you signed up with and we'll email it to you.
  • Your Email  
Close
Back
MDO
Mining Data Solutions
  • Home
  • Database
  • Subscribe
  • Sign In
  • Sign In
Canada
LabMag Project (KeMag Project)

This page is not tailored to
devices with screen width under 750 px.
 Location:
29 km NW from Schefferville, Quebec, Canada

  Project Contacts:
83 & 85 Atlantic
Schefferville
Quebec, Canada
G0G 2T0
Phone  ...  Subscription required
Fax418-585-2304
Additional Resources for Suppliers & Investors
Drill results over 30 g/t Au
Stay on top of recent discoveries.
Search drill results by commodity and grade.
Largest mines in the Americas
Mining and mill throughput capaciites.
Full profiles of select mines and projects.
Deepest underground mines
Shaft depth and mill throughput data.
Full profiles of select mines and projects.
Heavy mobile equipment
HME type, model, size and quantity.
Full profiles of select mines and projects.
Permitting and construction projects
Projects at the permitting or construction stage. Full profiles of select projects.
Mines with remote camps
Camp size, mine location and contacts.
Full profiles of select mines and projects.
Mines & projects in Canada
A list of country's mines and projects.
Full profiles of select mines and projects.
  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Filings & News

Thank you for browsing through mine profiles compiled by the Mining Data Online team.

Would you like to subcribe or schedule a Demo?
  • Name:
     
  • Company:
     
  • Position:
     
  • Phone:
  • Email:
  • Message:

Overview

StatusInactive / Suspended
Mine TypeOpen Pit
Commodities
  • Iron Ore
Mining Method
  • Truck & Shovel / Loader
Mine Life25 years (as of Jan 1, 2014)
Pursuant to the reorganization agreement dated August 5, 2020, between NML and the Tata Steel Group, NML retained its interests in the LabMag and KéMag properties (the “Taconite Properties”), and TSGMH was granted a 1% gross revenue royalty on the Taconite Properties.

The shares of NML are expected to delist from the Toronto Stock Exchange (the “TSX”) at the close of business on December 14, 2020, and the Resulting Issuer Shares are expected to begin trading on the NEO Exchange under the symbol “ABXX” on December 18, 2020.


Owners

Source:
CompanyInterestOwnership
New Millennium Iron Corp. 80 % Direct
New Millennium is 100% owner of the KéMag deposit and 80% owner of the LabMag deposit, with the remaining 20% of LabMag held by the Naskapi Nation of Kawawachikamach.

Contractors

Subscription required - Subscription is required.


Deposit Type

  • Banded iron formation


Summary:

The LabMag Property is located in the western margin of the Labrador Trough, adjacent to Archean basement gneisses. The Labrador Trough, also known as the LabradorQuebec Fold Belt, extends for more than 1,000 km along the eastern margin of the Superior Craton, from Ungava Bay to Lac Pletipi in Quebec. The belt is about 100 km wide in its central part and narrows considerably to the north and south. The Grenville Front crosses the southern part of the Labrador Trough.

The Deposit consists of magnetite Banded Iron Formation (“BIF”) of the Lake Superior type. BIFs are sedimentary rocks composed of alternating mm- to cm-scale beds of quartz (chert or jasper) and iron oxides (predominantly magnetite and hematite).

The taconite at LabMag consists mostly of alternating small-scale (mm to cm) beds of
recrystallized chert or jasper and massive or disseminated magnetite. Magnetite is the predominant iron oxide mineral, while hematite and martite occur in subordinate amounts. Gangue minerals are represented by iron silicates (minnesotaite and stilpnomelane), iron carbonate (siderite) and manganese carbonates (rhodochrosite and kutnahorite).

This iron formation has been explored by diamond drilling over a strike length of 9.5 km (Blocks A, B and C) and it extends beyond the northwest and southeast Property boundaries.


Mining Methods

  • Truck & Shovel / Loader


Summary:

The mining method selected for the Project is conventional truck and shovel. Vegetation and topsoil will be cleared using a mining contractor and be carried out with a fleet of dozers, small excavators and articulated haul trucks ahead of the mining operation.

Suitable organic material will be stockpiled for future reclamation use. Overburden will then be stripped using a fleet of excavators and hauled to the overburden dump. The ore and waste rock will be mined with 15 m high benches, drilled and blasted then loaded with large mining shovels into a fleet of rigid frame trucks which will haul the material either to the waste dump, the Class 2 ore stockpile or the primary crushers.

During peak production, the total number of 363-tonne haul trucks is expected to reach 35, along with seven (7) shovels, ten (10) production drills and a large fleet of support and service equipment.


Crushing and Grinding


Processing

Source: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityUnitsLOM
Iron Ore kt 525,000
All production numbers are expressed as concentrate.

Operational Metrics:

Metrics
Stripping / waste ratio 0.2 *
Waste tonnes, LOM 491 Mt *
Total tonnes mined, LOM 2,834 Mt *
Plant annual capacity 88 Mt of iron ore *
Annual production capacity 22 Mt of concentrate *
* According to 2014 study.

Reserves at December 31, 2018:

CategoryTonnage Commodity
Proven & Probable 3,933 Mt Iron
Measured & Indicated 388 Mt Iron
Inferred 1,063 Mt Iron

2014 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M CAD  ......  Subscription required
Sustaining CapEx $M CAD  ......  Subscription required
Total CapEx $M CAD  ......  Subscription required
OP OpEx $M CAD  ......  Subscription required
Processing OpEx $M CAD 8,671
G&A costs $M CAD 1,832
Total OpEx $M CAD  ......  Subscription required
Gross revenue (LOM) $M CAD  ......  Subscription required
Pre-tax NPV @ 8% $M CAD  ......  Subscription required
After-tax NPV @ 8% $M CAD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.


Proposed Heavy Mobile Equipment as of May 9, 2014:
HME TypeSizeQuantity
Drill ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required
Subscription required - Subscription is required.

Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
Annual Report 2018
Feasibility Study Report 2014
Subscription required - Subscription is required.

Subscription required - Subscription is required.

Terms of Use Privacy Policy © 2017-2023 MDO Data Online Inc.