Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
The collapse of iron-ore pricing since the start of 2014 was making life difficult for smaller producers, as the major miners pushed out more of the steelmaking ingredient to leverage economies of scale in the low-price environment. As a result of the down market, Eastern Canada-focused miner Labrador Iron Mines (LIM) on Friday said it would be forced to file for protection under the Companies' Creditors Arrangement Act or the Bankruptcy and Insolvency Act, should it fail in securing additional financing and completing a restructuring.
The collapse of iron-ore pricing since the start of 2014 was making life difficult for smaller producers, as the major miners pushed out more of the steelmaking ingredient to leverage economies of scale in the low-price environment. As a result of the down market, Eastern Canada-focused miner Labrador Iron Mines (LIM) on Friday said it would be forced to file for protection under the Companies' Creditors Arrangement Act or the Bankruptcy and Insolvency Act, should it fail in securing additional financing and completing a restructuring.
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