BIM meaning in Business ?

Answer: What is Baffinland Iron Mines Corporation mean?

The Mary River Mine is an open pit iron ore mine on Inuit Owned Land (IOL) operated by the Baffinland Iron Mines Corporation (BIMC), in the Mary River area of the Qikiqtaaluk Region, on Baffin Island, Nunavut,: 2 in the Canadian Arctic Archipelago. As of 2021, Mary River mine operation consists of an open-pit mine, two work camps for hundreds of workers, a tote road—from the Mary River site to Milne Inlet—and a port infrastructure at Milne Inlet. According to a 4-year study published in 2008, the Mary River Mine, with its four massive iron ore deposits of 65-70% pure iron ore was "one of the most promising undeveloped iron deposits on the planet". It was not until technological advances were in place in 2010, and the market for iron ore had dramatically increased that sizable financial backing for the high cost of development in a remote region known for its inhospitable climate, was available. The mine began operations in 2014, and the first shipment to Europe arrived in 2015. Baffinland is currently planning on expanding the mine. In February 2021, a group of Inuit hunters blockaded access to the mine for a week to protest the expansion.

In May 2021, a work camp for the mine experienced a COVID-19 outbreak, including the first cases of the highly transmissible SARS-CoV-2 Delta variant in the territory.

reference

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