Labrador Iron Mines Holdings (LIM) and Tata steel have already settled the cooperation agreement, including the sale of a 51% stake in the Howse iron ore.
Under the agreement, LIM and Tata Steel Minerals Canada (TSMC) will develop rail and port infrastructure facilities in Schefferville and Sept-Îles, Québec and co-operate various aspects of their iron ore operations in the Labrador.
Tata group’s New Millennium Iron Corp which has a number of mining projects in the region. The New Millennium’s direct shipping ore (DSO)’s annual capacity is about 6 million tons.
The proposed arrangement with LIM is expected to enhance the raw material security for the group and streamline the logistics of the DSO project," Tata Steel director H.M. Nerurkar pointed out.
The two companies will develop a railway line that will pass through LIM's Silver Yards facilities and connect TSMC's new processing plant to the main line.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=63415&division=A9
