New Millennium controls the emerging Millennium Iron Range, which holds the world’s largest undeveloped iron ore deposits in the Province of Newfoundland and Labrador and in the Province of Quebec. In the same area, the Company is also advancing to near term production its DSO Project. Tata Steel, the world’s sixth largest steel company, owns 19.9% of New Millennium and is the Company’s largest shareholder and strategic partner. Tata has an exclusive option to fund the DSO Project and a commitment to take the resulting production and an exclusive right to negotiate and settle a proposed transaction in respect of the LabMag Project.
New Millennium Iron Corp. ("NML" or the "Corporation") (TSX:NML) announced today the results of the ground gravity survey conducted near the vicinity of the Timmins DSO concentrator plant area by Tata Steel Minerals Canada ("TSMC"), a joint venture ...