SinoSteel, New Millennium ink deal to develop Labrador iron ore mine

Nov 30, 2005 | 06:22 AM | Brian Dunn

Chinese metals trader SinoSteel Corp. has signed a memorandum of understanding with New Millennium Capital Corp., Montreal, to develop an existing iron ore mine in Labrador near Schefferville, Quebec.

The LabMag iron ore project, which has been in play since the 1960s, was formerly owned by Iron Ore Co. of Canada (IOC), Labrador City, Newfoundland, said Robert Martin, New Millennium's president and a former IOC manager.....

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