The Taconite Project

Portions of the following information are based on assumptions, qualifications and procedures. For more information, please consult our legal page.


The Taconite Project consists of two deposits: the LabMag deposit located in the Province of Newfoundland & Labrador and the KéMag deposit located in the Province of Quebec.
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Feasibility Study


The feasibility study was authorized in March 2011, following the signing of a Heads of Agreement ("HOA") between NML and Tata Steel. To complete the study, a team was formed of personnel from both NML and Tata Steel. The study results were announced on March 27, 2014.
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Pre-feasibility Study

Independent pre-feasibility studies (PFS) were completed for each of the LabMag & KéMag Projects in order to provide development flexibility. The results of the LabMag and KéMag studies were published in 2006 and 2009 respectively
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LabMag Property

The LabMag deposit is in the Howells River taconite area and was explored by Labrador Mining and Exploration Co. (LM&E) and IOCC from 1949 to 1979.
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KéMag Property

The KéMag Property is located immediately to the west of Lac Harris and Lac Gillespie. Between 1949 and 1958, the Iron Ore Company of Canada (IOCC) carried out exploration mapping, sampling and test drilling to locate enriched iron ore deposits (DSO) around the KéMag deposit area.
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Taconite Related News


03/27/2014 Announcing Positive Results for the Taconite Project Feasibility Study
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12/31/2013 Updating the Progress of the Taconite Project Feasibility Study and expected filing of NI 43-101 compliant Technical Report Results
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11/28/2013 Announcing Progress of the Taconite Project Feasibility Study and Engagement of a Qualified Consultant for the Filing of a NI 43-101 Compliant Report
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05/13/2013 Providing Corporate and Project Update
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New Millennium Iron - IRON WILL

06/19/2012 NML featured in the Canadian Business Journal, Energy & Resources: June 18, 2012
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Technical Reports (PDF)

KéMag Prefeasibility Study Technical Report

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LabMag Update of the Resource Model (Blocks A,B,C)

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LabMag Prefeasibility Study Technical Report

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