28
Oct
17:16
Canadian government to support Labrador Trough iron development
Canadian iron ore developer New Millennium Iron Corp has inked binding deals with the province of Quebec to fund Tata Steel Minerals Canada’s project in the Labrador Trough.
Quebec will provide a $50 million loan and pay $125m for an 18% equity stake in Tata Steel Minerals Canada, of which New Millennium Iron Corp has a minority share. Tata Steel Minerals Canada owns 26.2% of New Millennium and is the company’s largest individual shareholder, Kallani…
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Very good overview of the weekly steel market.
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