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Labrador Iron Mines Has Second Train in Operation, Shares Gain 6%

Labrador Iron Mines (LIM.TO) is up nearly 6 percent today, gaining on reports it is now operating a second train at its James Mine and Silver Yards processing plant in western Labrador to the Port of Sept-Iles in Quebec.

The company's 33-percent partner, Anglesey Mining, yesterday said that Labrador Iron Ore mined 176,000 tons of ore during August, made up of 40,000 tons of direct railing ore at 65.3 percent iron and 136,000 tons of plant feed at 58.1 percent iron.

The second train began operations slightly ahead of schedule on Sept. 3 and is expected to significantly speed the amount of ore moving to port for sale.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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