Iron Bear Resources owns and operates the Iron Bear magnetite iron ore project, formerly known as the Block 103 Project.
The Iron Bear Project consists of eleven licenses totaling 11,000 ha on 441 graticular Mineral Claims under the applicable Labrador and Newfoundland mining regulation, located near the Provincial border of Newfoundland and Labrador (NL) and Quebec (QC), approximately 30 km northwest of the town of Schefferville, QC and 1,200 km by air northeast of Montréal, QC.
The Labrador Trough has supported iron ore mining operations since 1954. Rio Tinto (IOC), Arcelor Mittal (Mount Wright) Champion Iron (Bloom Lake and Kami), Tecora and Tata Steel are currently producing iron ore in the Labrador trough, in aggregate approximately 50 Mt p.a.
Mineral resource of 16.6 billion tonnes containing 29.3% total Fe and 18.2% magnetic Fe, cut-off grade 12.5% magnetic Fe.
Estimated OPEX of USD46/t FOB Pointe Noire for blast furnace concentrate due to access to low-cost hydropower
Iron ore asset with flexible development scenarios and the potential to ramp up production to over 100 Mta
Iron Bear located in Canada, less than 25km from an open access heavy haul railway with proximity to low cost to hydro-power
Production of high quality magnetite concentrate grading 71.0% Fe and 1.2% SiO2 in industrial pilot plant
Underpinned by the supply of bulk samples of DR and BF concentrates to mill clients in Q2 2024