Taconite Project: A new pelletizing project in Labrador Trough

2015

Robert Patzelt (New Millennium Iron Corp.), Bish Chanda (New Millennium Iron Corp.), Ernest Dempsey (New Millennium Iron Corp.)

New Millennium Iron Corp. (NML) is a mine development company led by the experienced iron ore professionals. The Company holds significant resources of economically mineable magnetic taconite ores. NML is jointly developing iron projects near Schefferville, Quebec with its strategic partner Tata Steel Limited (TSL). With its first joint venture Direct Shipping Ore (DSO) Project is already in production, the Partners are now focusing on advancing a much larger Taconite Project, which aims to produce high quality pellets for a global market. The Taconite Project is the only Project in the Trough which is geared to serve the growing segment of the iron ore industry. Due to radical changes in the steelmaking practices, a rapid growth in the pellet consumption is expected displacing fine ores and concentrates. NML intends to take the advantage of this growth opportunity to build innovative and technologically advanced mine and plants in order to be a competitive supplier to the steelmakers around the world. The presentation elaborates on the factors, which are driving up the demand due to an increased preference for pellets and describes the approach taken to ensure a relatively low position in the cost curve in order to be successful in developing the Project.

Keywords: New Millennium, Labrador Trough, New Project, Pellets