VANCOUVER (Scrap Monster): Canadian iron ore producer New Millennium Iron said that its joint venture with Tata Steel, namely Tata Steel Minerals Canada Limited (TSMC) is on track to produce two million metric tons of sinter and super fines in 2013 and to increase its production to 4.2 million metric tons per year in 2014.
TSMC is also developing plans to increase production to 6 million metric tons per year in 2015 to maximize the use of the current facilities, the company stated.
The company said that TSMC is progressing well, with approximately 250,000 metric tons of production to date. The ore is grading over 63 percent Fe, and is being processed in a portable dry crushing and screening circuit before shipping, the company added. The company estimates that 300,000 metric tons will be produced in 2012.
Dean Journeaux, President and CEO of NML, said, "We are at an important milestone in the Company's history with the beginning of stripping in August and ore production in September of this year. This will allow TSMC to prepare the mines to feed the processing plant next year.”
“We are very pleased that TSMC has decided to proceed with this interim step in order to ensure an orderly start-up of production in 2013. TSMC's plans for a potential increase in capacity are also an important step for the future,” he added.
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