The layoffs are not workers from the Wabush mine, but construction workers from the Bloom Lake phase 2 expansion project which has been halted.
For ADV there could be positive benefits: less competition for skilled labor, equipment and worker housing if Kami construction begins in 2013, and less competition for rail access (Bloom Lake stays at around 7 MTA for the near future). All of a sudden the QNS&L doesn't look so crowded.
Negatives for ADV: If Cliffs is holding off on expansion what about Hebei's attitude towards beginning construction near year? Are they still gungho to finance a new $1 billion capex iron ore mine in Canada? Will Hebei wait and see like Cliffs or are they going to take this lull in the market as an opportunity?