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BRIEF-Alderon reaches settlement with Newfoundland and Labrador Hydro
September 25, 2017 / 4:17 PM / 3 months ago

BRIEF-Alderon reaches settlement with Newfoundland and Labrador Hydro

Sept 25 (Reuters) - Alderon Iron Ore Corp:

* Alderon reaches settlement with Newfoundland and Labrador hydro

* Alderon iron ore corp - ‍As a result of settlement, Kami LP will be returned $11.5 million from release of letter of credit​

* Alderon iron ore - ‍If construction of transmission line resumes within next 5 years, Kami LP will get an additional $750,000 payment as a re-start credit​

* Alderon iron ore - ‍Kami LP reached settlement with Newfoundland, Labrador Hydro related to $21 million letter of credit

* Alderon iron ore - $21 million letter of credit was posted for construction of a new transmission line to Labrador West Area​ Source text for Eikon: Further company coverage:

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