Labrador Iron releases PEA on construction-ready Houston project in Canada Workers near a railway at Labrador Iron Mines' Schefferville iron ore property in the Labrador Trough. Credit: Labrador Iron Mines A preliminary economic assessment from Labrador Iron Mines Holdings (US-OTC: LBRMF) on its 52%-held Houston project on the Labrador-Quebec border suggests a 12-year open pit producing 2 million tonnes per year of material grading 62% iron. With a year-round mining rate of 5,500 tonnes per day, the material, after on-site crushing and screening, would be loaded onto trains, at 10,000 tonnes per day, between May and November. The PEA assumes sale of the iron product at the Houston rail siding – the sale price realized is assumed to include additional shipping charges and price participation costs by the off-taker at iron ore prices above the US$90 per dry metric tonne assumed as the base case benchmark iron price in the PEA.