LabMag and KeMag set to receive new attention from investors as numbers released
Tata Steel Limited and New Millennium Iron Corp. are near to completing a feasibility study for a potential iron ore project in the Labrador Trough near Schefferville, stating project numbers are expected to be released before year-end.
The companies have been working on developing the Millennium Iron Range taconite projects — part in Labrador, part in Quebec — for a long time, but the coming study would be a key step forward, offering investors detailed information on the real potential.
"We are very pleased to be close to completing and publishing the results of the feasibility study," said Dean Journeaux, president and CEO of New Millennium, in a statement on Nov. 28.
In mid-September, New Millennium officially entered the iron ore market with its first shipment out of Sept-Îles, Que., of ore from the Tata Steel Minerals Canada DSO project. Tata Steel Minerals Canada is a joint venture of Tata Steel (with 80 per cent interest) and New Millennium Iron Corp. (20 per cent).