NEW YORK Iron
ore development company Tata Steel Minerals Canada (TSMC) has
signed a deal to sell its iron ore output to Iron Ore Co. of
The contract will
allow Tata Steel Minerals Canada to start shipping product this
year, according to New Millennium Iron Corp., which has a
20-percent stake in TSMC.
The iron ore will be
sourced from New Millenniums direct shipping ore (DSO)
project in Schefferville, Quebec. "Deliveries should begin in
the coming weeks," Andreas Curkovic, head of investor relations
at New Millennium, told AMM sister publication
provides TSMC with a means of stockpiling and shiploading its
production, pending completion of the new deep-water,
multi-user dock now being built at Sept-Îles, Quebec, in
which both TSMC and New Millennium are investors," he said. "At
present, only IOC and Cliffs Natural Resources have shiploading
capability at Sept-Îles."
Curkovic said the
tonnage sold would be subject to mine-to-port haulage rates and
actual vessel arrangements.
"The DSO project
produced 300,000 tonnes in 2012 and planned production is 1
million to 2 million tonnes in 2013 and 4 million tonnes in
2014," Curkovic said. "The new dock is expected to be in
service sometime in 2014, so the IOC-TSMC agreement is a
Canadian iron ore
producer Labrador Iron Mines Holdings Ltd. recently entered a
strategic relationship with TSMC to develop iron ore operations
in the Labrador trough (
amm.com, March 12).
A version of this article was first published by AMM sister
publication Steel First.