Alderon Iron Ore Corp. (TSX:ADV) (NYSE MKT:AXX) ("Alderon" or the
"Company") is pleased to announce that The Kami Mine Limited
Partnership ("Kami LP"), has concluded a Community Participation
Agreement with the NunatuKavut Community Council ("NCC") with
respect to the development of the Kami Iron Ore Project (the "Kami
Project") located in Western Labrador and related rail
infrastructure. The Kami LP, held 75% by Alderon and 25% by Hebei
Iron & Steel Group Co. Ltd. ("HBIS"), holds a 100% interest in
the Kami Project.
The NCC represents approximately 6,000 Southern Inuit who reside
in communities along the southern coast and interior waterways of
Labrador.
The Community Participation Agreement sets out the basic
positions of each of the Kami LP and the NCC and addresses such
matters as environmental permitting, training and employment,
business opportunities and community initiatives. Kami LP will
provide NCC with capacity funding for the review of permits,
participation in any follow-up or monitoring programs, and training
initiatives. In return, NCC will support the Kami Project and not
take any action which would delay or interfere with the Kami
Project.
Todd Russell, President of the NCC said "Respectful
relationships can be developed between aboriginal peoples and
industry, it just takes understanding, respect and a willingness to
do so. This agreement is an example of what can be achieved when we
work together. It provides clarity and stability for the company
and NCC and is a good foundation on which to build. We look forward
to working with our partners at Alderon to implement this agreement
and to ensure that our people can avail of the opportunities that
the agreement presents. This is indeed good news and I thank all
those who worked so hard to bring this agreement to fruition."
Mark J. Morabito, Executive Chairman of Alderon said: "Alderon
acknowledges the importance of building relationships, based on
mutual trust and respect, with those Aboriginal groups whose
traditional territories or asserted or recognized legal rights are
within or proximate to the Kami Project. To achieve this objective,
Alderon is committed to dealing collaboratively with each
Aboriginal group to develop and implement a meaningful engagement
process. We look forward to continuing to work with NCC and other
Aboriginal groups to address potential project effects as we move
forward with the development of the Kami Project. We believe that
this agreement will contribute to a long-term and mutually
beneficial association between NCC, Alderon and the Kami LP."
About Alderon
Alderon is a leading iron ore development company in Canada with
offices in Vancouver, Toronto, Montreal, St. John's and Labrador
City. The Kami Project, owned 75% by Alderon and 25% by HBIS, is
located within Canada's premier iron ore district and is surrounded
by four producing iron ore mines. The Alderon team is comprised of
skilled professionals with significant iron ore expertise to
advance Kami towards production. HBIS is Alderon's strategic
partner in the development of the Kami Project and China's largest
steel producer.
For more information on Alderon, please visit our website at
www.alderonironore.com.
ALDERON IRON ORE CORP.
On behalf of the Board
Mark J Morabito, Executive Chairman
Cautionary Note Regarding Forward-Looking Information
This press release contains "forward-looking information"
concerning anticipated developments and events that may occur in
the future. Forward looking information contained in this press
release include, but are not limited to, statements with respect to
(i) the development of the Kami Project; (ii) potential future
effects of the Kami Project; and (iii) the potential benefits and
consequences of the Community Participation Agreement..
In certain cases, forward-looking information can be identified
by the use of words such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would", "might"
or "will be taken", "occur" or "be achieved" suggesting future
outcomes, or other expectations, beliefs, plans, objectives,
assumptions, intentions or statements about future events or
performance. Forward-looking information contained in this press
release is based on certain factors and assumptions regarding,
among other things, receipt of governmental and other approvals,
the estimation of mineral reserves and resources, the realization
of resource estimates, iron ore and other metal prices, the timing
and amount of future exploration and development expenditures, the
estimation of initial and sustaining capital requirements, the
estimation of labour and operating costs, the availability of
necessary financing and materials to continue to explore and
develop the Kami Property in the short and long-term, the progress
of exploration and development activities, the receipt of necessary
regulatory approvals, the completion of the environmental
assessment process, the estimation of insurance coverage, and
assumptions with respect to currency fluctuations, environmental
risks, title disputes or claims, and other similar matters. While
the Company considers these assumptions to be reasonable based on
information currently available to it, they may prove to be
incorrect.
Forward looking information involves known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking information. Such
factors include risks inherent in the exploration and development
of mineral deposits, including risks relating to changes in project
parameters as plans continue to be redefined including the
possibility that mining operations may not commence at the Kami
Property, risks relating to variations in mineral resources, grade
or recovery rates resulting from current exploration and
development activities, risks relating to the ability to access
rail transportation, sources of power and port facilities, risks
relating to changes in iron ore prices and the worldwide demand for
and supply of iron ore and related products, risks related to
increased competition in the market for iron ore and related
products and in the mining industry generally, risks related to
current global financial conditions, uncertainties inherent in the
estimation of mineral resources, access and supply risks, reliance
on key personnel, operational risks inherent in the conduct of
mining activities, including the risk of accidents, labour
disputes, increases in capital and operating costs and the risk of
delays or increased costs that might be encountered during the
development process, regulatory risks, including risks relating to
the acquisition of the necessary licences and permits, financing,
capitalization and liquidity risks, including the risk that the
financing necessary to fund the exploration and development
activities at the Kami Property may not be available on
satisfactory terms, or at all, risks related to disputes concerning
property titles and interest, risks related to disputes with
Aboriginal groups, environmental risks, and the additional risks
identified in the "Risk Factors" section of the Company's Annual
Information Form for the most recently completed financial year or
other reports and filings with applicable Canadian securities
regulators. Accordingly, readers should not place undue reliance on
forward-looking information. The forward-looking information is
made as of the date of this press release. Except as required by
applicable securities laws, the Company does not undertake any
obligation to publicly update or revise any forward-looking
information.
Contacts: Alderon Iron Ore Corp. Ian Chadsey Investor Relations
1-514-817-5799 or 1-888-990-7989info@alderonironore.com
www.alderonironore.com Alderon Iron Ore Corp. Montreal Office
514-281-9434 514-281-5048 (FAX) Alderon Iron Ore Corp. Vancouver
Office 604-681-8030 604-681-8039 (FAX)
Grafico Azioni Alderon Iron Ore (CE) (USOTC:AXXDF)
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Da Mag 2024 a Giu 2024
Grafico Azioni Alderon Iron Ore (CE) (USOTC:AXXDF)
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Da Giu 2023 a Giu 2024