List of Deals
The Arnaud Pellets Project consisted of a pelletizing plant and related facilities constructed at Pointe Noire, Quebec. The Project was constructed and was to be operated primarily for the purpose of treating iron ore concentrates to be produced by the Wabush Mines Project at Wabush Lake in Labrador.
Among the Wabush Mines participants, some determined that they wanted all of a portion of the Wabush Mines concentrates to which they were entitled to be pelletized in the plant described herein. The participants in the Arnaud Pellet Project were as follows: the Steel Company of Canada, Limited (Stelco); Dominion Foundries and Steel, Limited (Dofasco); Youngstown Sheet and Tube Company (Youngstown); Interlake Iron Corporation (Interlake); Inland Steel Company (Inland); Pittsburgh Steel Company (Pittsburgh); Societa Finanziaria Siderurgica Finsider per Azioni (Finsider); and Pickands Mather & Co. (Picands).
The Project was owned and operated as an unincorporated joint venture called "Arnaud Pellets" and consisting of three joint venturers: Wabush Pellet Company (owned by Youngstown, Interlake, Inland, Pittsburgh, Finsider, and Pickands), Stelco, and Dofasco. Each joint venturer was to own its own share: Wabush Pellet Company approximately 58.2 percent, Stelco approximately 25.5 percent, and Dofasco approximately 16.3 percent of all assets of the Project.
Although Arnaud Pellets and Wabush Mines had substantially the same ownership, each was a separate joint venture owning and operating a separate project. The Arnaud Pellet Project was to transport concentrates and pellets only between the pellet plant and the junction point. The Wabush Mines Project was to carry on activities involving transportation of concentrates up to the junction point and of pellets from the junction point to the Wabush Mines dock, and loading pellets in vessels at the dock.
Wabush Mines began mining iron ore in 1965. Its concentrating plant is in Wabush and its pellet plant and shipping facilities are located in Point Noire, Quebec. Wabush Mines has been the town's primary industry since the incorporation of Wabush in 1967.
Settled in the far western tip of Labrador, Wabush serves as a transportation and business link between the province, the country, and the world. Wabush is a modern mining town
settled and built upon its huge deposit of iron ore, which has provided the community's main industry, employment source, and economic base since the late 1960s. The mining operation has grown into an unincorporated joint venture between Stelco, Inc., Dofasco, Inc., and Wabush Iron Co., Ltd. The Labrador West region is the Iron Ore Capital of North America, with the largest ore concentration and yearly yield on the continent.