Founded in 2003, New Millennium Iron Corp. ("NML") is a Canadian iron ore development company with an extensive property position in Canada’s principal iron ore district, the Labrador Trough, straddling the Province of Newfoundland and Labrador and the Province of Québec, in the Menihek Region around Schefferville, Québec. The Company’s project areas are connected via a well-established, heavy-haul rail network to the Port of Sept-Îles, Québec.
The Company is in a strategic partnership with Tata Steel, a global steel producer and industry leader. Tata Steel owns approximately 26.2% of the Company and is the Company’s largest shareholder.
NML has a minority interest in Tata Steel Minerals Canada Ltd. (“TSMC”), which is owner and operator of a direct shipping ore (“DSO”) project in the Schefferville/Menihek region of Canada’s Labrador Trough. The DSO project produces and ships sinter fines. Subsidiaries of Tata Steel and the Quebec Government’s financing arm, Investissement Québec, are also shareholders of TSMC.
Beyond TSMC, the Company offers further development potential through seven, long-life taconite properties capable of producing high quality pellets and pellet feed to service the requirements of steel makers with either blast furnace or direct reduced iron making operations. Two of these deposits – LabMag and KéMag – were the subject of large-scale development feasibility studies carried out by the Company and Tata Steel and published in March 2014.
With these feasibility study results as a foundation and all seven taconite properties now explored to a NI 43-101 compliant resource, the Company can optimize its taconite development strategy and is currently focused on a smaller market entry project called the NuTac Project Initiative, for which a prefeasibility study was carried out and published in June 2016.
NML's core competencies lie in the wealth of its experience and knowledge of the industry. NML strives to leverage its competencies to build world class projects through meticulous planning, thorough testing and deployment of cutting edge technologies, which would create lasting value for its shareholders, affected communities and all stakeholders for over 100 years.Learn more
NML is committed to earn the trust and confidence of its shareholders, employees and stakeholders through sound and transparent corporate governance.Learn more
Howard Lutley - Non-Executive Chairman
Kevin Bullock - Independent Director
Mario Caron - Independent Director
W. Scott Leckie - Independent Director
Daniel P. Owen - Independent Director
Sandip Biswas (Tata Steel) - Director
Dibyendu Bose (Tata Steel) - Director
Chanakya Chaudhary (Tata Steel) - Director
NML's executive team is as follows:
Ernest Dempsey - Chief Executive Officer
Mark Freedman - Chief Financial Officer
Tata Steel, one of the largest steel companies in the world through its wholly-owned subsidiary Tata Steel Global Minerals Holdings Pte Ltd., owns approximately 26.2% of NML's shares and is the company's largest shareholder and strategic partner. NML also has a partnership agreement with the Naskapi Nations of Kawawachikamach (NNK), in respect of the LabMag taconite project, which is unique in the Canadian Mining Industry.Learn more