07
Dec
19:21
New Millennium, port settle capacity dispute
Canadian iron ore supplier New Millennium Iron Corp and the Port of Sept-Îles have resolved their long-running dispute regarding the company’s take-or-pay obligations, Kallanish reports.
The dispute revolved around a $38.4 million advance the company gave the port in 2012 to fund construction and reserve 15 million tonnes of iron ore loading capacity.
New Millennium and the port disagreed on the triggering of future shipping and wharfage fees. The…
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Very good overview of the weekly steel market.
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