Optimism in Newfoundland offshore oil grows with Hebron Project. With the Hebron Gravity-Based Structure now pumping oil, many business leaders and economic decision makers are very excited about what the future might hold for offshore oil in this province. Offshore oil is one of the most dependable components of the Newfoundland and Labrador economy. It started in[…]
New pilot program makes immigration a main pillar in future economic plans. When leaders from all four Atlantic Provinces came together to develop the Atlantic Growth Strategy, there was no question that immigration would play a prominent role if the strategy were to be successful. The economic and cultural benefits of immigration is embraced and[…]
Newfoundland and Labrador’s first producing offshore oil field hits significant milestone. When the Hibernia platform began operations in 1997, it was predicted that 563 million barrels would be extracted and production would be ceasing around this time. Nearly two decades later, the project has reached a significant milestone. The Hibernia platform pumped its one billionth[…]
Long-awaited Wabush 3 mining project gets green light. Since the 1960s the Iron Ore Company of Canada (IOC) has been operating the Carol Project in Labrador City, with four open pit mines currently in operation. Wabush 3 is one of two new deposits that IOC has been exploring for future development, and the new pit[…]