MineX delves into ‘chang­ing and evolv­ing’ busi­ness

The Aurora (Labrador City) - - FRONT PAGE -

The MineX con­fer­ence held in Lab West had a num­ber of in­ter­est­ing speak­ers. One of those was Clay­ton Walker, the Pres­i­dent and CEO of the Iron Ore Com­pany of Canada.

“Our busi­ness is chang­ing and evolv­ing, to be glob­ally com­pet­i­tive in a world that is con­stantly chang­ing,” he said. “To en­sure our busi­ness has a strong, sus­tain­able fu­ture we are con­sciously em­brac­ing the need to do things dif­fer­ently to con­tin­u­ously pre-empt, plan for and adapt to change. A fun­da­men­tal in­no­va­tion for IOC has been the adop­tion of a new In­te­grated Op­er­at­ing Model in essence view­ing our whole busi­ness as one sys­tem, which runs from mine to port, rather than sep­a­rate parts. By look­ing at our busi­ness dif­fer­ently, we have been able to max­i­mize our abil­ity to de­liver value by op­ti­miz­ing the uti­liza­tion of our re­sources, as­sets and peo­ple.”

He also spoke about a large part of their suc­cess de­pends on peo­ple join­ing them on this jour­ney and be­ing able to see the ben­e­fits a strong IOC can de­liver - from the big pic­ture, to the com­mu­nity and to their in­di­vid­ual lives.

“We want the peo­ple who work at IOC and our part­ners in the com­mu­nity to be able to take pride in the role iron ore pro­duced in this prov­ince plays in cre­at­ing the mod­ern world around us, and to join the dots to see the role they play in mak­ing all of this pos­si­ble, by sup­port­ing the safe and cost ef­fec­tive pro­duc­tion of a qual­ity prod­uct that cus­tomers will want to pur­chase across the world.”

One of the long-awaited speak­ers of the first day of the event was Matt Le­hti­nen, pres­i­dent and CEO of Ta­cora re­sources, the com­pany buy­ing Wabush Mines.

Le­hti­nen brought the au­di­ence up to date. He says they must await the com­ple­tion of the en­vi­ron­men­tal as­sess­ment, which he ex­pects to be com­pleted in the com­ing months. That will be fol­lowed with fi­nal fi­nanc­ing, which he as­sured au­di­ence mem­bers they have no doubt that will be a given, once ap­proval has been given to the en­vi­ron­men­tal as­sess­ment. Also, he pointed out that they have al­ready put an agree­ment in place for 100 per cent of their ore to be pur­chased.

He said in the cur­rent plans the West pit of the mine would not mined any longer but new ar­eas of the mine would be.

He also pointed out the com­pany has plans to fur­ther re­duce man­ganese, and he says one of the at­trac­tive things about ore in the Labrador trough is the qual­ity of the ore. Re­al­is­ti­cally, Le­hti­nen says once the cap­i­tal is raised, it will be six months or more to get the mine ready for pro­duc­tion. He told the au­di­ence that the tar­get is to be pro­duc­ing by this time next year.one of the au­di­ence mem­bers raised the is­sue of power for the op­er­a­tion. He as­sured them they will have ac­cess to all they need.

PHOTO BY MIKE POWER

Del­e­gates at MINEx.

PHOTO BY MIKE POWER

Matt Le­hti­nen, pres­i­dent and CEO, Ta­cora re­sources, was also a speaker at the event.

PHOTO BY MIKE POWER

Clay­ton Walker, pres­i­dent and CEO, Iron Ore Com­pany of Canada.

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