INTERVIEW: Tata’s Canadian iron ore partner eyes fINTERVIEW: Tata’s Canadian iron ore partner eyes further offtake agreements
October 25, 2011 - 12:04 GMT Location: London
KEYWORDS: Canada , New Millennium Iron , NML , Europe , Tata Steel , iron ore
Canadian iron ore miner New Millennium Iron (NML) plans to sign offtake agreements next year for the portion of its second-phase production in 2016 which Tata Steel Europe will not buy, ceo Dean Journeaux told MB
Canadian iron ore miner New Millennium Iron (NML) plans to sign offtake agreements next year for the portion of its second-phase production in 2016 which Tata Steel Europe will not buy, ceo Dean Journeaux told MB. The second phase of production for Schefferville-based NML at the LabMag and KéMag greenfield deposits will produce an estimated 15 million tpy of pellets and 7 million tpy of pellet feed, according to a pre-feasibility study. After a further $50 million feasibility study, to be completed at the end of 2012, Tata Steel will have four months to decide which of the deposits it wants to develop. It will own 80% of the second phase of production, unless NML exercises its option to increase its 20% stake to 36%. “During this [2012] feasibility study, we will be seriously looking at offtake for the rest of the project. So we’ll have to be setting up...
Anyone have the rest of this article???? Found this on google finance.com a few days old. Any thoughts on the offset agreements with TATA.