Anglesey Mining’s associate LIM makes first iron ore export to China

Anglesey Mining thequipment rentals portable screeners crushers grinders seattle washingtonis morning confirmed that its 33 per cent owned associate Labrador Iron Mines (TSE:LIM) has made its first export shipment of iron ore from Canada to China.

It said that the Salt Lake City vessel, carrying 167,167 wet tonnes of iron ore, departed from the Port of Sept-Iles at 4.50 am (eastern daylight time) today. The ore is being sold through LIM’s deal with the Iron Ore Company of Canada (IOC) – an associate of Rio Tinto – which has committed to sell all of LIM’s iron ore production for 2011. The sale price for the iron ore is based on the actual realized prices to Chinese customers, less an allocation for handling, loading, shipping and sales costs, Anglesey explained. "This is a momentous day in the history of LIM and is the culmination of six years of...