Mining Weekly reported that Oceanic Iron Ore plans to build a port instead of a rail line to transport its iron ore from the iron belt of Eastern Canada to the market.
As quoted in the market news:
That self-sufficiency is a big advantage, the company says. Several juniors operating in the so-called Labrador Trough – a geological formation sprawling across northeastern Quebec’s border with the province of Newfoundland and Labrador – were counting on Canadian National Railway building a line to transport their ore to a St Lawrence River port hundreds of kilometers to the south. CNR mothballed the plan in February.