Economic downturn in mining activity is devastating the communities of Labrador City and Wabush.
The Iron Ore Company of Canada is exploring a major expansion in Labrador West that the company hopes to help expand its production by 50 million tonnes. Increased demand from China and India is driving the expansion, while the company is also looking to further develop its pellet business to more traditional markets in Europe and the US. It is predicted that, if the expansion is a success, the workforce will nearly double from 2,300 to 4,000. Source: VOCM
Does MUN take into account the ethical history of these investors, or do they turn a blind eye once they see the cloth bag emblazoned with an over-sized dollar sign?