Tata Steel Minerals Canada Ltd., a joint venture between Tata Steel and New Millennium Iron Corp. (NML), has started initial mining of saleable iron ore and is stockpiling the product at its Timmins plant site for crushing and screening. “We are at an important milestone in the company’s history,” said Dean Journeaux, president and CEO, NML. “Production started on September 10, 2012, stripping having started in mid-August.”
NML controls the emerging Millennium Iron Range, located in the Province of Newfoundland and Labrador and in the Province of Quebec, which holds one of the world’s largest undeveloped magnetic iron ore deposits. In the same area, NML and Tata Steel are advancing a direct-ship iron ore project (DSO Project) to near term production. Tata Steel owns approximately 26.5% of NML. The DSO project contains 64.1 million metric tons of proven and probable reserves at an average grade of 58.8% Fe.
