What’s happening at Mary River?

SARA MINOGUE

How many people will get jobs this year?
The Baffinland Mining Corp. will hire 18 people from Pond Inlet this year to work at their Mary River exploration camp this summer in three six-person teams.

Why is Baffinland Mining still exploring for iron ore?
They know there are about 130 million tonnes of iron ore at the site. But to make the project a profitable business, they need to prove there’s at least 250 million tonnes of ore there.

How will the ore be transported?
The company will build a railway line to a port. At the port, giant ships will pick up the ore and ship it to Europe.

Where will the port be located?
The most likely port site is at the end of Milne Inlet. But the company will also study the idea of a port at Steensby Inlet, facing the Foxe Basin, connected to the mine by a railway line.

When would the iron mine start up?
Many years from now. The company must do more mineral exploration, and do a large number of studies – including a feasibility study to prove that the mine can make money. They must negotiate an Inuit impact and benefits agreement with the Qikiqtani Inuit Association, submit the project to an environmental review, and apply to the government for permits and licences. Eventually, they must also find investors willing to put hundreds of millions of dollars into the project to pay for its start-up costs.

Who owns the land?
Baffinland Mining Corp. owns the mineral exploration leases for the site, and the land is administered by DIAND. The leases, and access to an old road leading to Milne Inlet, were “grandfathered” under the Nunavut land claims agreement. But the area is completely surrounded by Inuit-owned lands.

Where can I get more information?
Baffinland Mining Corp. now trades shares on the stock market – the TSX Venture Exchange in Toronto. That means the company must make all its technical and financial information available to the public. You can can find that information on the world wide Web at www.baffinland.com.