SEPT-ÎLES, February 2, 2016 – The Port is pleased with the decision handed down on February 1 by the Superior Court of Québec approving the agreement concluded on January 26 between the Port and Wabush for the sale of land in Pointe-Noire collectively called “Block Z” subject to proceedings initiated by Wabush under the Creditors Arrangement Act.

Block Z represents over 400 hectares of land along almost five kilometers of the southern edge of the Alouette Smelter access road. With the existing spaces in Pointe-Noire, this new acquisition will allow the Port to fulfill its mission of being a positive force for economic development by connecting the three port facilities it owns—the Pointe-Noire dock, La Relance dock, and multi-user dock. These new spaces will also make way for additional growth opportunities for a sector already recognized as a strategic platform in the Plan Nord.

The Port will work closely and efficiently with the Quebec government, the new owner of the land, equipment, and rights associated with rail, storage, pelletizing, and transshipment in the Pointe-Noire sector. The Port will spend the coming days finalizing the documentation needed to close the transaction in a timely manner.

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