Port Sept-Iles dock on time and on budget
TORONTO (miningweekly.com) – TSX-listed Alderon Iron Ore on Tuesday said work on the new multi-user deep-water dock at the Port of Sept-Iles, Quebec is on time and within budget and construction of the new facility was expected to be complete by the end of March 2014.
The company said the first phase of the programme was now complete and included dredging in order to allow for the loading of large Capesize vessels.
Construction of the dock started during the first week of October and the driving of the first piles is planned for mid-November.
"We are extremely pleased that the Sept-Iles Port Authority is making such good progress on the construction of the new facility. This should allow for all the necessary port infrastructure to be in place in accordance with Alderon's project development timeline,” Alderon president and CEO Tayfun Eldem said in a statement.
Alderon also reported that while the progress of the feasibility study on the Kami property continued to advance, certain engineering studies and optimisation analyses within the overall feasibility initiative were taking more time to conduct and finalise than originally expected.
“The results of the study may still be released during the fourth quarter of the year, but in any event, the results of the feasibility study will be released prior to January 31, 2013. This delay will not affect Alderon's project development timeline,” the company said.
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