Photo: Group bids for Baffinland

Baffinland Iron Mines Corp. has set up a committee to analyze an unsolicited $274-million takeover bid for its $4-billion Mary River iron ore project on Baffin Island, made by an investment group called Nunavut Iron Ore on Sept. 22. The Mary River site contains about 500 million tonnes of high-grade reserves of iron ore which would keep an open-pit mining operation busy for 20 years. (PHOTO/BAFFINLAND)