Labrador Mining crypto

Canada’s iron ore is mined in Quebec, Newfoundland and Labrador, and Nunavut . The top three iron ore-producing countries (Australia, Brazil and China) accounted for 69% of global production. The primary use of iron ore is to make steel, which is 100% recyclable.

Only two significant gold showings have been found in Labrador, to date ; the Aucoin Showing in North Central, and the VBE-2 showing just south of Voisey’s Bay Ni-Cu-Co Mine. A study of the geology of Canada indicates that the Canadian Shield is one of the most prolific gold hosts in the world.

Voisey’s Bay Mine is a nickel mine in Labrador, Canada, near the bay of the same name. The mine is located about 35 km (22 mi) southwest of Nain.

Newfoundland and Labrador is geologically diverse and is richly endowed with a wide spectrum of minerals, including iron ore, base and precious metals, uranium, tungsten, molybdenum, antimony, and rare earth and industrial minerals .

The iron ore deposits in the Labrador City area occur as specular hematite and magnetite, generally in the ratio of 65:35 . IOC has mineral reserves and resources of 1.3 billion tonnes and 1.8 billion tonnes, respectively, with an average grade of approximately 38% iron.

Here are the five largest iron ore mines by production in Canada, according to GlobalData’s mining database.