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New Millennium Iron thinks big with its imposing Taconite project , which includes deposits and Kémag LabMag whose exploitation could result in the investment of over $ 5 billion . One located in Newfoundland and Labrador and the other in northern Quebec , the Company and its partner Tata Steel will decide shortly which they exploit deposits first. The decision will not be foreign to the findings of the feasibility study , to be unveiled this year.

" This is a huge project as " argued the vice president of New Millennium, Dean Journeaux to more than 150 business people gathered at a course organized by the Chamber of Commerce dinner . "The market is there for one of the two deposits could produce 22 million tonnes per year, is more than the Iron Ore Company and ArcelorMittal ," said he exemplified.

In addition, the project would give way to a new concept , little used in Quebec , the route the production ferroduc , which resembles a large pipe . As sludge , ore concentrate , mixed with water, would be transported to the port facilities in Sept -Îles. Once on site, the product is separated and dried . "This is a technology that has been proven elsewhere in the world ," said Mr. Journeaux .

The construction of a 600 km ferroduc also allow the company to save transportation costs. "This is a very economical way and more is better for the environment since it does not burn oil for example. The pumps are powered by ferroduc electricity, " he added.

Pelletizing plant
The Taconite Project would also result in the construction of a pelletizing plant in the area of ​​Pointe-Noire. The objective of New Millennium is simple: produce pellet cheapest iron in North America. " We're talking about a production of 17 million tonnes of pellets and about 6 million tonnes of concentrate ," says Mr Journeaux .

In an optimistic scenario , the development of the first field could begin by 2016. The construction phase would be accompanied by 4,500 jobs over three years. Thereafter, the operation would create about 1,000 jobs at the mine site and 250 in Sept -Îles.

Cloud on the horizon ?
New Millennium also intends to ship its production facilities through the future multi-user platform, the construction should be completed this spring. Mining has extended not less than 50 million with its Indian partner for the use of infrastructure. However , the dispute between the Port of Sept-Îles and Cliffs Natural Resources , which does not come to an agreement on the acquisition of land , concerns the giants.

"For our project , we need to cross land owned by Cliffs is a big problem as it will not be solved with the Port ," added Mr. Journeaux . For now, New Millennium has agreed with IOC to ship via the platform of the mining , production of DSO project in operation since September 2013.

Vice President of New Millennium Iron , Dean Journeaux, gave an update on the projects of the company to the business people of Sept-Îles. (Photo: The North Coastal )