Calgary, Alberta – January 21, 2016 - New Millennium Iron Corp. (“NML” or the “Company”) (TSX:NML) today welcomed the announcement by the Government of Quebec that it has signed an Agreement-in-Principle with TS Global Minerals Holdings, a Tata Steel group company, regarding possible participation in the direct shipping ore (“DSO”) project near Schefferville, Quebec. The DSO project is owned and operated by Tata Steel Minerals Canada Limited, in which NML holds a 6% interest.
According to the Quebec announcement, a decision is expected before March 31, 2016.
Robert Patzelt, President and CEO of NML, said, “This very encouraging step by the Government of Quebec shows its commitment to growing the Province’s mining sector, supporting its northern regions and providing an investment climate for doing so. We look forward to a successful completion of this important initiative with TSG.”
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