DAILY NEWS Oct 24, 2012 4:58 PM - 0 comments

IRON ORE MINING: New Millennium to boost DSO output to 6 million t/y

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2012-10-24

QUEBEC – Production has just gotten underway at the DSO project near Schefferville, and already plans are being made to boost production to 6 million t/y in 2015. The project is a joint venture of New Millennium Iron Ore of Calgary (20%) and Tata Steel Ltd. of Mumbai, India (80%).

So far 250,000 tonnes of ore grading 63% Fe has passed through a portable dry crushing and screening circuit at the site. By the end of 2012 the output is expected to total 300,000 tonnes. In 2013 it will be 2 million tonnes, and in 2014 4.2 million tonnes of sinter and super fines.

In a news release, New Millennium said the original cost projected in the feasibility study was $475 million, and that amount has jumped to $560 million. The company said the increase is due to changes in the project’s scope, unexpected soil conditions, steel fabricated dome structure, increased EPCM cost, and increased cost of construction. Cost escalation expected to complete the project has now been included for inputs such as equipment, fuel and construction costs.

More information is available from the joint venture website, TataSteelCanada.com.

Companies in This Story

New Millennium Iron Corp

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