Iron on Baffin Island

One of the largest iron ore deposits in the world has been confirmed on Baffin Island in Nunavut. Baffinland Iron Ore Mines Corporation says that the deposits at its Mary River project contain 365 million tonnes of reserves. A feasibility study estimates that it will cost $4.1 billion to build the mining facilities in the Far North, which would require 145 kilometres of rail lines and ports for ice-breaking ships.