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Newsletter - issue nbr 5 - December 2012

12/19/2012

Message from President and CEO Dean Journeaux

The construction of the Direct-Shipping Ore Project by Tata Steel Minerals Canada is proceeding well. The feasibility study of the Taconite Project (“TP”) by NML and Tata Steel is approaching completion.

The price of iron ore dropped in September to $86/tonne from a 2012 high of $200/tonne, reflecting the moderate growth in global steel production. Several iron ore projects in Canada, Brazil and Australia have been suspended until better economic conditions re-appear.

NML's projects are very dependent on reasonable iron ore prices and on costs such as fuel, energy, labour, equipment and taxation in its various forms.

NML's projects are also dependent on the quality of the environmental data that it collects and the measures that it takes to avoid or mitigate potential negative impacts. Projects in the traditional lands of First Nations must pay particular attention to the remains of human occupation. This edition of NML News describes how NML has addressed the question of archaeological and heritage sites.

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