📋 Tender Overview
To further the development of critical minerals in Newfoundland and Labrador, the Honourable Andrew Parsons, KC, Minister of Industry, Energy and Technology, today announced the issuing of an Expression of Interest for the potential development of the Julienne Lake iron ore deposit in western Labrador.
The Julienne Lake iron ore deposit is a large, undeveloped iron ore deposit approximately 25 kilometres from the town of Labrador City and Wabush. It is an Exempt Mineral Land (EML) meaning that its mineral rights belong to the Government of Newfoundland and Labrador.
The deposit has the potential to support a high-purity iron ore mining operation for decades which would result in significant economic and employment opportunities for the province, particularly Labrador. It is positioned to play a critical role as a new strategic raw material supply for green steel manufacturing to support global demand for decarbonized steel.
The Julienne Lake deposit hosts total Measured and Indicated Resources of 867 million tonnes at 33.7 per cent iron, plus an Inferred Resource of 299 million tonnes at 34.1 per cent iron.
Detailed proposals will be accepted from those who have provided expressions of interest and who have a demonstrated ability to bring the Julienne Lake project to, at a minimum, a completed feasibility study stage. The Expression of Interest can be viewed here and the deadline for submissions is December 6, 2024, at 4:30 p.m. NST. To learn more, please see the backgrounder below.
Newfoundland and Labrador’s Critical Minerals Plan has identified the presence of 34 minerals in the province. These are minerals present in the province that are needed by Canada and other jurisdictions, and which are required as part of the energy transition, climate change action and adaptation. This province has been a leader in the designation of high-purity iron ore as a critical mineral, with both Quebec and the Government of Canada also identifying high-purity iron ore as a critical mineral. Due to its advantaged position in reducing greenhouse gas emissions in steel manufacturing and the potential for further value-added activity as a green steel input, the development of Julienne Lake could play an important role in the green transition.
The mineral industry is an important contributor to Newfoundland and Labrador’s economy, with 8,500 persons employed in 2023 and 7.3 per cent of the 2022 provincial GDP. Mineral exploration and development primarily occurs in rural and remote regions of the province, creating opportunities for local businesses and facilitating investments in infrastructure, education and health care.
Quotes
“The demand for critical minerals is rising across the globe amidst the transition to the green economy. Newfoundland and Labrador is well-positioned to maximize this opportunity to secure economic and social benefits for the province. By exploring the potential of Julienne Lake, which represents a very rare and unique opportunity, we are providing further potential for economic development in this province and doing our part to support the global green transition.”
Honourable Andrew Parsons, KC
Minister of Industry, Energy and Technology
“We welcome and support the Government of Newfoundland and Labrador’s decision to invite Expressions of Interest for advancing this unique opportunity. With high-purity iron’s recent addition to Canada’s Critical Minerals list, the Julienne Lake EML represents a significant opportunity to potentially advance an undeveloped iron ore deposit situated near an established mining jurisdiction. This decision enables the mineral resources community to be better positioned to achieve sustainable resource development and maximize benefit for years to come.”
Amanda McCallum
Mining Industry NL
