LABRADOR – Calgary-based New Millennium Iron and its partner Tata Steel of India have set a target production date of Q4 2012 for the direct shipping ore (DSO) iron development near Schefferville. Major contracts have been awarded and equipment ordered in anticipation of the first shipment being made by the end of this year.
The long lead time equipment ordered for the DSO project include a mineral sizing station, jigs and wet high intensity magnetic separators, spiral classifiers and hydrosizers, dewater and drying units, diesel generators and rail cars. The foundations are ready to receive the mill building, a prefabricated rigid dome. Installation of electrical equipment is to occur in Q3. Arrangements have been made with a trucking firm and railway to move the ore to Sept-Iles, QC, where it will be stockpiled and shipped.
The Millennium Iron Range currently hosts two advanced projects, LabMag and KeMag, that together contain billions of tonnes of reserves and resources. The DSO project is based on 64.1 million tonnes of proven and probable mineral reserves at an average grade of 58.8% Fe, 8.1 million tonnes of measured and indicated mineral resources at an average grade of 58.8% Fe, 7.2 million tonnes of inferred resources at an average grade of 56.8% Fe and about 40.0 million to 45.0 million tonnes of historical resources.
Please see NMLiron.com for details.