NML’s mission is to add shareholder value through the responsible development of its Millennium Iron Range taconite properties and other mineral projects to create a new source of high quality raw materials for the world's iron and steel industries.
Through a series of comprehensive feasibility studies, NML has built a strong technical and engineering foundation with a range of development options for its taconite properties. Since the commodity industry is cyclical with volatile swings in prices, NML's aim is to position its operations cost competitively for success through the cycle.
Key Elements of NML's Planning Process:
- Long term perspective
- Selection of the best resource
- Ore characterization and blending to minimize variability of the plant feed
- Process development through methodical testing, including large scale continuous pilot scale tests
- Close collaboration with equipment vendors and technology suppliers to ensure incorporation of the most efficient proven solutions
- Access to existing rail and port infrastructure
- Openness to innovative ideas and input from all sides
- Efficient deployment of capital to become a cost competitive producer
- Optimization and value engineering to ensure longer term efficiency
- Creation of high quality products to supply steelmakers with either blast furnace or direct reduced ironmaking operations.