Labrador Iron Mines

Holdings Limited

TSX: LIM

Our Commitment

Partnering with Local Communities

At Labrador Iron Mines, we believe that success can only be achieved through the building of relationships of trust and mutual benefit with all stakeholders, especially the communities in which we work. Adopting open and transparent communications with local communities and governments is paramount to establishing this kind of relationship. Learning from one another, having mutual respect and working together will result in shared success.

The peoples of the Quebec-Labrador Peninsula are represented by several dynamic cultures and traditions.

There are five Aboriginal communities: the Innu of Matimekush-Lac John, the Naskapi of Kawawachikamach, the Sheshatshiu Innu First Nation, the Mushuau Innu First Nation and the Innu of Uashat mak Mani-Utenam. Non-aboriginal Canadians share the land with the Innu in the communities of Schefferville, Labrador City, Wabush and Goose Bay.

In July, 2008 LIM signed an Impact Benefits Agreement with the Innu Nation of Labrador representing the Sheshatshiu Innu First Nation and the Mushuau Innu First Nation, living in the communities of Sheshatshiu and Natuashish, committing to an ongoing relationship between the Innu Nation and Labrador Iron Mines with respect to the development of the Company's Project. The IBA is a life of mine agreement that establishes the processes and sharing of benefits that will ensure an ongoing positive relationship between Labrador Iron Mines and the Innu Nation. In return for their support of the project, the Innu Nation and their members will benefit through training, employment, business opportunities and financial participation in the project.

In September 2010, LIM signed an Impact Benefits Agreement with the Naskapi Nation of Kawawachikamach based on an earlier Memorandum of Understanding.

On December 17, 2010, LIM signed an Agreement in Principle with the Innu of Uashat and Mani-Utenam which stipulates the principal terms to be included in a Final Agreement regarding the impacts and benefits of LIM’s mining projects.

Following a memorandum of understanding with the Nation Innu of Matimekush-Lac John of Schefferville, Quebec in the fall of 2010, on June 7, 2011 LIM signed a life-of-mine Impact Benefits Agreement (IBA) with the Nation Innu Matimekush–Lac John. The IBA paves the way for the development of LIM's projects that will provide opportunities for the local community at Schefferville, and particularly its youth, protecting the environment and Innu traditional and cultural activities.

To help maintain open lines of communications, we have established offices in Schefferville, Goose Bay and Labrador City/Wabush to act as a portal between LIM and the communities. Our community relations personnel and other staff at these locations endeavour to meet regularly with community and government leaders, community groups, and individuals to answer questions and address concerns. We encourage participation and enquiry through our website.