NML’s opportunity for value creation stems from a portfolio of strategic and quality iron deposits in Quebec and Labrador that are serviceable with existing transportation and power infrastructure.
Taconite Resources: Our Main Asset
NML has made advancements on a number of fronts as follows:
1) Carried out feasibility studies and published related technical reports on the large KéMag and LabMag taconite properties, called the Taconite Project Feasibility Study (TPFS);
2) Completed exploration programs on five other taconite properties, which established NML among the largest holders of NI 43-101 magnetite iron ore deposits;
3) Initiated a plan to re-scope the outcomes from the combined $61 million TPFS and exploration investments into a development option that can better NML’s positioning when market conditions improve;
Direct Shipping Ore: A New Canadian Supplier to the Seaborne Market
In the same region and with industry leader Tata Steel as strategic partner, we helped establish a direct shipping ore (DSO) project which has seen a number of significant accomplishments, including saleable ore production and shipments, construction of a processing
We retain a 6% interest in the project’s owner/operator, Tata Steel Minerals Canada, and market participation through that holding.