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Canada
Houston Project

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 Location:
16 km SE from Schefferville, Newfoundland and Labrador, Canada

  Project Contacts:
55 University Avenue, Suite 1805
Toronto
Ontario, Canada
M5J 2H7
Phone  ...  Subscription required
Fax416-368-5344
WebsiteWeb
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  • Overview
  • Owners
  • Geology
  • Mining
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  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StagePreliminary Economic Assessment
Mine TypeOpen Pit
Commodities
  • Iron Ore
Mining Method
  • Truck & Shovel / Loader
Mine Life12 years (as of Jan 1, 2020)


Owners

Source: p. 41,42
CompanyInterestOwnership
Labrador Iron Mines Holdings Ltd. 52 % Indirect
Parent company LIMH is headquartered in Toronto, Ontario, Canada. Labrador Iron Mines Limited (LIM) is majority owned (approximately 52%) by LIMH and Schefferville Mines Inc. (SMI) is a wholly owned subsidiary of LIM. LIM directly holds the group’s iron properties located in the province of Newfoundland and Labrador and SMI directly holds the group’s iron properties located in the province of Québec. Houston Iron Royalties Limited (HIRL) holds the right to a 2% royalty on sales of iron ore from the Houston and Malcolm properties.

Contractors

Subscription required - Subscription is required.


Deposit Type

  • Banded iron formation


Summary:

The LIM deposits are composed of iron formations of the Lake Superior type. The Lake Superior type iron formation consists of banded sedimentary rocks composed principally of bands of iron oxides, magnetite, and hematite within quartz (chert) rich rock, with variable amounts of silicate, carbonate, and sulphide lithofacies.

The earthy bedded iron deposits are a residually enriched type within the Sokoman iron formation that formed after two periods of intense folding and faulting, followed by the circulation of meteoric waters in the fractured rocks. The enrichment process was caused largely by leaching and the loss of silica, resulting in a strong increase in porosity. This produced a friable, granular, and earthy textured iron mineralization. The siderite and silica minerals were altered to hydrated oxides of goethite and limonite. The second stage of enrichment included the addition of secondary iron and manganese, which appear to have moved in solution and filled pore spaces with limonite goethite. Secondary manganese minerals, i.e., pyrolusite and manganite, form veinlets and vuggy pockets. The types of iron mineralization developed in the deposits are directly related to the original mineral facies. The predominant blue granular iron mineralization was formed from the oxide facies of the middle iron formation. The yellowish-brown iron mineralization, composed of limonite-goethite, formed from the carbonate-silicate facies, and the red painty hematite iron min ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

Conventional open pit mining methods are proposed for the Houston Project. Proposed RoM operations would begin in the Houston 1 pit in July of Year 1, followed by Houston 2 pit in Year 2. Both Houston 1 and 2 were previously permitted. In Year 6, RoM operations move north to the Malcolm pits in Québec, and in Year 8 RoM operations return to Labrador for mining of Houston 3 to the end of RoM operations in Year 12.

Mining operations will be performed by LIM using its own equipment and workforce, with the exception of blasting services, which will be provided by an explosives contractor. LIM will provide the open pit equipment, operator training, supervision, pit technical support services, mine consumables, and the pit operations and maintenance facilities. The downstream activities following mining consist of crushing and screening at the dry sizing plant, product haul to the rail siding, and loading of trains.

RoM operations target production of approximately 2.0 Mdmtpa of high-grade iron mineralization for lump and sinter fines product sales over a 12 year period. Approximately 23.4 Mdmt of high-grade iron mineralization is mined at a diluted grade of 62.2% Fe over the Life-of-Mine (LoM), along with 52.5 Mdmt of waste material. The LoM stripping ratio is approximately 2.2 units of waste to each unit of high-grade iron mineralization (2.2:1). Of note are the very low stripping ratios in Years 1 and 2, at 0.1:1 and 1.2:1 respectively.

PIT DESIG ........


Crushing and Grinding
Source: Subscription required

- subscription is required.


Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityUnitsAvg. AnnualLOM
Iron Ore M dmt 223
All production numbers are expressed as lump & fines.

Operational Metrics:

Metrics
Stripping / waste ratio  ......  Subscription required
Daily mining rate  ......  Subscription required
Daily ore mining rate  ......  Subscription required
Waste tonnes, LOM  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Total tonnes mined, LOM  ......  Subscription required
Daily processing capacity  ......  Subscription required
Daily processing rate  ......  Subscription required
Annual processing capacity  ......  Subscription required
Annual mining rate  ......  Subscription required
Annual ore mining rate  ......  Subscription required
* According to 2020 study.
Subscription required - Subscription is required.

Reserves at December 31, 2020:
Mineral Resources are estimated based on a cut-off of 50% Fe.

CategoryTonnage CommodityGrade
Measured 11.4 M dmt Iron 62.7 %
Indicated 9.1 M dmt Iron 62.7 %
Measured & Indicated 20.5 M dmt Iron 62.7 %
Inferred 14.3 M dmt Iron 59.4 %

Commodity Production Costs:

CommodityUnitsAverage
Cash costs (sold) Iron Ore USD  ......  Subscription required&nbs
Assumed price Iron Ore USD  ......  Subscription required&nbs
* According to 2020 study / presentation.
Subscription required - Subscription is required.

Operating Costs:

Units2020
OP mining costs ($/t mined) CAD 3.82 *
Processing costs ($/t milled) CAD  ......  Subscription required
G&A ($/t milled) CAD  ......  Subscription required
Total operating costs ($/t milled) CAD  ......  Subscription required
* According to 2020 study.
Subscription required - Subscription is required.

2020 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M CAD  ......  Subscription required
Sustaining CapEx $M CAD  ......  Subscription required
Closure costs $M CAD  ......  Subscription required
Total CapEx $M CAD  ......  Subscription required
OP OpEx $M CAD  ......  Subscription required
Processing OpEx $M CAD 74
Transportation (haulage) costs $M CAD 109
G&A costs $M CAD 245
Total OpEx $M CAD  ......  Subscription required
Mining Taxes $M CAD  ......  Subscription required
Royalty payments $M CAD  ......  Subscription required
Gross revenue (LOM) $M CAD  ......  Subscription required
Net revenue (LOM) $M CAD  ......  Subscription required
EBITDA (LOM) $M CAD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M CAD  ......  Subscription required
After-tax Cash Flow (LOM) $M CAD  ......  Subscription required
Pre-tax NPV @ 10% $M CAD  ......  Subscription required
Pre-tax NPV @ 8% $M CAD  ......  Subscription required
After-tax NPV @ 10% $M CAD  ......  Subscription required
After-tax NPV @ 8% $M CAD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.


Proposed Heavy Mobile Equipment as of December 31, 2020:
HME TypeSizeQuantity
Backhoe 500 HP ....................... Subscription required
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Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Nov 4, 2022
Subscription required - Subscription is required.

Staff:

Total WorkforceYear
Subscription required 2020

Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2021
................................... Subscription required 2020
Management Discussion & Analysis 2016
Technical Report 2013
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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