On August 25, 2025, Canada's Oceanic Iron Ore Corp. announced the latest progress of the Hopes Advance project, highlighting the project's strategic advantages and long-term production potential. The project is located in the tidal zone, eliminating the need for railway infrastructure construction and removing dependence on third-party ports, thereby reducing costs.

The current mine plan only considers mining 3 out of 10 deposits within a 28-year mine life. The project possesses abundant mineral resources of over 1.3 billion tons with an iron grade of 32.1%, capable of meeting the long-term demand of the iron ore market.

As part of the current Canadian government's Northern Action Plan, Quebec strongly supports mineral project development in northern Quebec, and this project has received support from the Northern Plan Association.