SEPT-ÎLES, January 27, 2016 – The Port of Sept-Îles has reached an agreement, subject to judicial approval, regarding its acquisition of land in the Pointe-Noire area. The land is currently subject to proceedings initiated by Wabush Iron Co. and Wabush Resources Inc. under the Creditors Arrangement Act.

The motion hearing for a transaction that would see certain Pointe-Noire assets sold to Investissement Québec has already been set for February 1. The motion will be amended so that the Port’s intended acquisition of land in the Pointe‑Noire area can be approved during the hearing. For more details on the upcoming transaction with the Port, visit the auditor’s website at http://cfcanada.fticonsulting.com/bloomlake/.

ABOUT THE PORT OF SEPT-ÎLES

Boasting diverse, state-of-the-art facilities, the Port of Sept-Îles is one of North America’s largest ore-handling ports, with an annual volume of close to 25 million tonnes. The port facilities at Sept-Îles play a vital and strategic role in the economy of Eastern Canada. Annual economic impacts are estimated at nearly $1 billion and almost 4,000 direct and indirect jobs.

Source:
Patsy Keays
Director, Corporate Affairs
Port of Sept-Îles
418 961-1235