Reportedly, Tata Steel has injected CAD 30 million to acquire half the interest in Labrador Iron Mines Howse deposit in Canada estimated iron ore reserves of 28 million tonthrough its subsidiary TATA Steel Minerals Canada.
This is followed by another move in Canada by Tata Steel after it bought 27.7% in New Millennium Iron Corporation. It also owns 80% in NML’s DSO Project in the Labrador region.
Tata Steel Minerals Canada has the option to raise its stake to 70% by paying INR 130 crore.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=63465&division=A9
