Danny Williams leaves Alderon board

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Kami mine clears federal assessment; company announces change in directors

Alderon Iron Ore has announced a change in its board of directors, while also celebrating a step forward in its Kami iron ore mine project today.

In a statement issued this morning, Alderon noted former premier Danny Williams has resigned from the company’s board of directors.

Williams, who has been with the board since 2012, will maintain a connection with the company as an adviser.

“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,” states the news release.

Meanwhile, on Monday, federal Environment Minister Leona Aglukkaq signed off Alderon’s Kami iron ore project from further environmental assessment. According to the statement issued by the Canadian Environmental Assessment Agency, the minister is of the opinion the mine project “is not likely to cause significant adverse environmental effects.” This is assuming mitigation measures promised by the company for any potential environmental impacts are seen through.

“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,” said Tayfun Eldem, Alderon’s president and CEO.

“We now have the green light from both the provincial cabinet and the federal minister and can move forward with our construction plans.”

The project was released from further assessment by the province in January.

Before construction can begin, the company must complete final permits with Fisheries and Oceans Canada and Transport Canada.

Alderon is also working towards completing its latest round of project financing.

Organizations: Alderon board, Canadian Environmental Assessment Agency, Fisheries and Oceans Canada

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Recent comments

  • Dolf
    February 20, 2014 - 08:39

    The little fart set the fuse for Muskrat & bade us farewell with a God Guard Thee Newfoundland tear jerker. Next was the deliverance of the power line. All that's left if for Alderon and government to start a PR program of jobs, jobs, jobs and they get their new found power for a song. The poor suckers of NL bite the bullet again.

  • SayWhat
    February 19, 2014 - 18:10

    Lets go back to the CBC On Point interview on Alderon. It was stated that production costs would be 45 dollars a ton. I nearly fell off the chair. Grated it is way lower than Wabush mines. But it is still not competitive. Last fall, the Chinese pumped one billion dollars into a west African iron ore mine. This mine has a 40 year lifespan. The valuation is 50 percent more than what Rio Tinto wants for IOC and production costs are 50 percent less than Alderon. To paraphrase the former Premier, the time to get out is a no brainer.

  • david
    February 19, 2014 - 14:32

    Pretty bad when even St. Danny realizes the completely outrageous, untenable optics of the situation....no one around here would ever have noticed, so it must have been the company's Bay St. lawyers that strongly recommended he get lost. The "developed world" tends to get nervous about this kind of thing...

  • 55CARES
    February 19, 2014 - 13:53

    In my opinion an investigation and/or inquiry is needed into how this province has been governed since the PCs became the government in 2003. Something does not seem right. I also feel that Mr. Tom Marshall should resign immediately. This fellow has been the Minister of Finance for approximately 6 of the last 7 years and just look at the mess; running deficits at a time when the government has more revenue than ever in the history of this province. Now he is premier and just delivered a transmission line to Alderon at the expense of the people. Unbelievable!!! What is going on here with this PC government?

  • Galaway Fiddle Player
    February 19, 2014 - 13:25

    Ducks in a row! I wouldn't say he donated his salary this time. Maybe, he'll run for Premier again. The front PC brass only has MHA steve kent out front now, a few years ago he was in the back bench's. That's quite the change and it might look good on a resume! The Tories, after all these years and their big strong mandate, are willing let someone off the streets waltz on in, sit in the premier's chair and take over our affairs! That is so weak! and it shows there's not a bit of gumption in them. That's what the result of a Coat Tail government looks like first hand. The people of the province will pay dearly for it!

  • Corporate Psycho
    February 19, 2014 - 12:18

    He is going to make a fortune off of this. Some of it off the taxpayers back.

    • Awww
      February 19, 2014 - 14:18

      Someone sounds very envious of Danny boy.

    • DW
      February 19, 2014 - 15:47

      Buy some stock...