Baffinland Plans Expansion at Mary River Mine in Nunavut

Baffinland Iron Mines Corp. is likely planning a further expansion of its Mary River iron mine that would see iron ore shipments through its Milne Inlet port increase to 18 million tonnes a year, according to Nunatsiaq News.

That’s a larger production figure than that provided to stakeholders and regulators by Baffinland in its current “Phase 2” proposal, which the Nunavut Impact Review Board is still assessing, that is, 12 million tonnes a year.

Baffinland’s largest shareholder is Nunavut Iron Ore Inc., which is controlled by a Texas-based private equity firm called the Energy & Minerals Group, which owns 72 per cent of the company. The European steel giant ArcelorMittal owns the other 28 per cent.