Date: 2013-08-01

Tata Steel's Canadian ore project to begin production this year

NEW DELHI: Tata SteelBSE 4.56 % is planning to begin production from one of its iron ore projects in Canada by year-end, a move that will boost raw material supplies to its European operations.

As per the plan, production from Direct Shipping Ore (DSO) Project, in which Tata Steel holds 80 per cent stake, is expected to begin during the October-December quarter. A target of 1 million tonnes (MT) of iron ore has been kept for the current fiscal.

The production will be ramped up to over 3 MT in 2014-15, Tata Steel said in a presentation posted on its website.

"Trial production (was) successful in 2012 with initial mining and dry processing of 63 per cent iron grade ore. Plan for 1 MT of iron ore in FY'14, to be ramped up to over 3 MT in FY15," the company said, adding that it has obtained various permits, approvals and environmental clearances.

The DSO Project is run by Tata Steel Minerals Canada Ltd and contains 64.1 MT of proven and probable reserves having an average grade of 58.8 per cent iron. It also has about 60 MT indicated, inferred and historical resources of various grades of iron.

Tata Steel has the commitment to invest about 300 million Canadian dollars on the DSO project.

In a recent update, New Millennium Iron Corporation --the 20 per cent partner in DSO Project-- said that construction of the processing complex and ancillary facilities are expected to be completed during the October-December quarter of 2013 and then, first production will happen.

Iron ore from the project will be shipped to Tata Steel's European operations as pellets and sinter fines. Tata Steel had already made a commitment to take 100 per cent of the DSO project's iron ore products for the life of the mining operations.

Besides the DSO project, Tata Steel also has 26.3 per cent stake in Canadian firm New Millennium Iron Corporation and 51 per cent stake in Howse iron ore deposit of Labrador Iron Mines.

Tata Steel Minerals Canada Ltd is also involved in the development of New Millennium's LabMag-KeMag iron ore deposits, which together have proven and probable reserves of 5.6 billion tonnes of low grade iron ore.

According to New Millennium, the preliminary feasibility study report of the LabMag and KeMag deposits has been received and after preparation of the final report, it will be present before the Boards of the two companies.

The LabMag-KeMag deposits are one of the crucial links for the raw material security of Tata Steel's European operations, which does not have any captive mine of its own.

Previous: Misumi Group announced Monthly Sales Figures Apr 2013
Next: Ferrules simplify hydraulic hose coupling connections

Hot Products:

Product Model	Inside Diameter	Outside Diameter	Thickness
6307NSE NACHI	35	80	21
6207NSE NACHI	35	72	17

【TradeBearings News Statement】

1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"TradeBearings".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.