# Iron Ore Company of Canada invests $79M in Wabush 3 pit expansion

The Iron Ore Company of Canada is investing $79 million to develop the Wabush 3 mining pit near Labrador City, Newfoundland and Labrador, to boost production capacity to 23 million tonnes by the second half of 2018.

- Type: Expansion
- Announced: 2017-02-23
- Where: Labrador City, Newfoundland and Labrador, Canada
- Value: $79.0M
- Starts operating: Q3 2018
- Status: announced
- Capacity: 23 million tonnes of iron ore per year
- Products: iron ore concentrate
- Sectors: [Mining Equipment](https://endata.com/sectors/mining-equipment.md)

## Companies

- [Iron Ore Company of Canada](https://endata.com/companies/22438.md)
- [Rio Tinto](https://endata.com/companies/4215.md) (investor)

## Sources

- [canadianmanufacturing.com](https://www.canadianmanufacturing.com/financing/iron-ore-company-of-canada-investing-79m-to-expand-remote-labrador-mine-186058/), 2017-02-23: "The Iron Ore Company of Canada is moving forward with a $79 million expansion project at its sprawling iron mine outside Labrador City, N.L."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.