Port of Sept-Iles Development Project Progresses Well (Canada)

Alderon Iron Ore Corp. announced that work on the new multi-user deep water dock at the Port of Sept-Îles is on time and within budget.

Construction of the new facility is expected to be completed by the end of March 2014.

The first phase of the program is now complete and included dredging in order to allow for the loading of large capesize vessels. This work was carried out by Ocean Group Inc., the recognized leader in integrated marine services throughout Eastern Canada.

Construction of the dock commenced during the first week of October and is being carried out by Pomerleau Inc., the largest construction company in Quebec. The driving of the first piles is planned for mid-November.

“We are extremely pleased that the Sept-Îles Port Authority is making such good progress on the construction of the new facility,” says Tayfun Eldem, President and CEO of Alderon. “This should allow for all the necessary port infrastructure to be in place in accordance with Alderon’s project development timeline.”

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Press Release, October 30, 2012