Québec Cartier Mining Company was one of the leading producers of iron ore products in North America, now part of ArcelorMittal.
Eighteen years later, the company extended its operations seventy miles north to Fire Lake.
At their Mont Wright plant, the company operates an open pit mine and a crusher/concentrator facility capable of producing eighteen million metric tonnes of iron ore concentrates annually.
The falling market forced Québec Cartier to shut down its Fire Lake and Lac Jeannine plants in the mid 80's.
Pelletier said in his speech: "After 51 years of existence, Québec Cartier, proud of its heritage, now look at the future under its new name, with its new family with optimism."