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Newsletter - issue nbr 8 - December 2014

12/19/2014

Message from President and CEO

2014 has been very productive with encouraging news.

The DSO Project (for Direct Shipping Ore), owned and operated by Tata Steel Minerals Canada (TSMC), in which NML has a 20% interest, continues to move forward. It is targeting 6.0 million tonnes per year (Mtpy) by 2016 from both processed and direct ship product streams.

Construction of the DSO Project’s covered, year-round  processing plant is more than 80% complete and  commissioning is targeted for the first half of 2015. The processing plant will be able to produce 4.2 Mtpy of high grade fines. Along with the processed ore, there will be a 1.8 Mtpy saleable stream of crushed and screened ore grading approximately 60% Fe, which is already being produced and shipped to Tata Steel Europe for plant trials.

As well, considerable exploration and analytical work has now been carried out on the Howse Deposit, which, it is expected, could add approximately 1.5 Mtpy of saleable  production. More information on Howse will become available in 2015. The environmental impact statement for Howse is scheduled to be submitted shortly.

The Taconite Project Feasibility Study (TFS), which is being jointly undertaken by Tata Steel Limited and NML, has made good progress. The results of the techno-economic component of the TFS were announced last March and filed on SEDAR in May. We are very pleased with the results of this joint study and will continue to work with governments at all levels, Aboriginal groups, suppliers, contractors and other stakeholders to advance the project to the next stage of development.

NML is now in the next phase of work to render the Taconite  Project investor-ready, which includes submitting the Project Description pursuant to the applicable environmental assessment regimes and undertaking public consultation/participation.

This edition of NML News highlights an archaeological find and NML´s involvement in local and regional bodies.

 - Robert Patzelt


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