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Friday, February 24, 2017

February 24, 2017

 

For Immediate Release

 

 

 

PC's Welcome IOC's Wabush 3 Expansion: Their Confidence Will Drive Growth

 

Keith Hutchings, Natural Resources Critic for the Official Opposition, welcomes the decision by the Iron Ore Company of Canada to expand their operations by developing the new Wabush 3 pit.

 

"The company's decision is not just an important sign of their confidence in the future of mining in Labrador West, but a move that will boost the confidence of other mining companies looking to Labrador," said Hutchings.

 

"Labrador West has a solid record spanning several decades of creating wealth for companies that invest there. Labrador has not just the high-quality ore that developers require, but a world-class work force‎ with a proven record of delivering for investors.

 

"Soon, our province will be bringing new hydro power on stream on Labrador's Churchill River that will fuel the growth of operations that need secure energy sources. Muskrat Falls power will help to drive new growth and economic opportunity in Labrador, and that's one of the reasons we supported the decision to build it and ensure needed electricity would be available for future industrial opportunities. Energy means jobs and growth," he said.

 

"We are very excited for both current and future workers of Labrador West and their families, because this expansion ‎is what they have been waiting to hear. Uncertainty in the commodities markets took a heavy toll on families and the local economy, but IOC's vision and confidence have replaced that uncertainty with optimism about growth to come. They are proving that confidence is contagious, and that's a lesson all of us need to keep in mind as we look to the future of our province. First we need to believe in our capacity to grow, because confidence is the fuel that makes growth happen," said Hutchings.

 

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Media Contact: Heather MacLean, Director of Operations and Communications, Office of the Official Opposition (709) 729 6105, heathermaclean@gov.nl.ca

 

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