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.....





Latest Pricing Trends

Poll

Do you think steel mills will succeed in their efforts to stop selling at a discount to the CRU index?

Yes
No
It’s too early to tell


View previous results

AMM Events


Quote

This whole thing is becoming a game of smoke.

Midwest service center