Feb 21 2014
Alderon Iron Ore Corp. ("Alderon" or the "Company") is extremely pleased to announce that the Federal Government of Canada has issued the Notice of the Minister of Environment's Environmental Assessment Decision Statement for the Kami Iron Ore Project ("Kami Project") in western Labrador.
On February 18, 2014 the Federal Minister of Environment posted the Notice of the Environmental Assessment Decision Statement. The Decision Statement sets out the Minister's conclusion that the Kami Project is "not likely to cause significant adverse environmental effects". As a result of this determination, the Kami Project may now proceed subject to the terms and conditions included in any federal permits or authorizations.
On January 10, 2014 the Cabinet of Newfoundland and Labrador determined that the Kami Project met the requirements of Part X of the Newfoundland and Labrador Environmental Protection Act and was released from the Provincial EA Process. Combined with the favourable decision by the Federal Minister of Environment, Alderon is now in a position to move ahead with plans to commence construction. Alderon would like to thank all stakeholders for participating in this extensive undertaking.
"The positive decision of the Federal Minister of Environment marks another enormous milestone for Alderon as we move forward with the development of the Kami Project," says Tayfun Eldem, President and CEO of Alderon. "We now have the green light from both the Provincial Cabinet and the Federal Minister and can move forward with our construction plans."
Board Resignation
Alderon also announces that Mr. Danny Williams has resigned from the Board of Directors of Alderon but will remain as a consultant to the Company in the role of special advisor to the Company. Mr. Williams has served the Alderon Board with distinction since March of 2012 and the entire Board thanks Mr. Williams for his contributions during this period of formative growth for Alderon, as it completed Environmental Assessment and solidified agreements on power, port, offtake and other key files. Mr. Williams was an influential Board member and his advice and active participation were instrumental in Alderon's achievement of numerous milestones over the last two years. Alderon looks forward to Mr. Williams' continued involvement with the Company.
About Alderon
Alderon is a leading iron ore development company in Canada with offices in Montreal, Vancouver, St. John's and Labrador City. The Kami Project owned 75% by Alderon and 25% by Hebei Iron & Steel Group Co. Ltd. ("HBIS") through The Kami Mine Limited Partnership is located within Canada's premier iron ore district and is surrounded by four producing iron ore mines. Its port handling facilities are located in Sept-Iles, the leading iron ore port in North America. 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
Source: http://www.alderonironore.com/