Aboriginal peoples account for about 3 percent. Labrador has large deposits of iron ore. The Labrador Trough, a belt of land rich in iron ore, crosses the western edge of Labrador. The railway runs through western Labrador from Schefferville, Quebec, just north of western Labrador, to Sept-Iles, Quebec, a port on the Gulf of St. Lawrence. A branch of the railway runs to iron ore deposits near Carol and Wabush lakes.
Ships carry the ore to steel mills in other parts of Canada and in the United States.
Labrador is also an important fishing area. Cod has long been the most valuable fish catch. But because of overfishing, the Canadian government has prohibited cod fishing in some areas. Arctic char, Atlantic salmon, and trout are other valuable fish. In the summer, people from Labrador and other parts of Newfoundland who fish for a living occupy harbors that have been abandoned by permanent settlers.