Baffinland, Canada: committed for the long term
We have a 50% stake in Baffinland Iron Mines, which began mining iron ore in the remote Nunavut region of the Canadian Arctic in 2014, but which will not be fully operational until the first shipment of ore in the summer of 2015. Our aim for the project is to identify and develop the resources on North Baffin Island safely and efficiently, and unlock their wealth-generating potential for the benefit of all stakeholders. We want not just to meet but exceed the expectations of the local Inuit Land Claims Beneficiaries, by providing long-term employment skills. We have consulted with them extensively, as described in previous reports, ensuring everyone has a chance to give us feedback. And we want to protect this ecologically unique habitat.
In 2014 Baffinland received approval to ship ore from Milne Port at certain times of the year. More recently, we asked for permission to ship additional tonnage through Milne Inlet, which would extend the shipping season to the winter, when the inlet is covered with ice. This proposal is now subject to regulatory review. We expect to be part of the Baffinland environment for long time, and we are managing our presence and our relationships with all stakeholders with that in mind. That’s why Baffinland was so pleased to win the 2014 Murray Pyke Award at the Nunavut Mining Symposium, which recognises an exceptional contribution to the economic and social development of the Nunavut region made by a mining or exploration company.