Labrador MP Welcomes Wabush Mines Investment

WABUSH, January 27, 2009—Labrador MP Todd Russell is pleased to see that Wabush Mines will benefit from a $2.2-million investment under the Atlantic Investment Fund.

“Wabush Mines, like every major mining company, competes in a global economy,” Russell said. “The federal funding just announced will help to ensure that Wabush Mines retains a competitive edge.”

The Atlantic Invesment Fund, a federal program administered by the Atlantic Canada Opportunities Agency, will fund Wabush Mines’ research into manganese separation technology. Wabush ore is high in manganese, meaning that a process to separate the manganese and iron components of the ore would extend the productive life of the mine.

“This investment is one more step towards full-scale manganese extraction, a technology that both mine management and employees have been considering for many years,” Russell said. “Mine operators such as Wabush Mines know the importance of economic efficiency and environmental and business sustainability. Exploring the technological options for manganese separation will hopefully help make Wabush Mines more successful in the long run, and contribute to the economic well-being of Labrador West for the years to come.”

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Contact:

Todd Russell, MP

(613) 996-4630