New Millennium: Canada's Emerging Global Iron Ore Producer
CIM Montreal 2011
Robert Martin, Bish Chanda,
New Millennium Capital Corp. (NML.V) is an exploration company focusing on iron ore in the Schefferville area located in the Northern regions of Quebec and Labrador, a historical iron ore producing area. NML controls the Millennium Iron Range, one of the world’s largest undeveloped magnetite deposits containing over 9.0 billion tonnes of NI 43-101 certified resources. NML with its strategic partner Tata Steel is currently developing the Direct Shipping Ore (DSO) Project which is due to start production in Q3, 2012. Tata Steel owns 80% of the DSO Project and will invest $300 million. Annual production will be 4.0 million tonnes and Tata Steel guarantees off-take of the 100% production at the market price. The construction of the DSO Project being secure, NML currently is focusing on the development of its world class Taconite Project comprising of KéMag and LabMag deposits. NML and Tata Steel have signed in March, 2011 a binding agreement regarding the development of the Taconite Project. The presentation will provide an update on the progress of the DSO Project, the development plan for the Taconite Project and NML’s vision to become a global iron ore producer.
Canadian iron ore project, new iron ore producer, Iron Ore, new projects in development