11
Aug
18:45
New Millennium records loss, continues development work
Canadian iron ore developer New Millennium posted a net loss in the second quarter as work continues on their prospective mines in the provinces of Newfoundland and Labrador and Quebec, Kallanish reports.
New Millennium lost about CAD 3.44 million ($2.65m) in Q2 and CAD 1.01m in Q2 2015. The company attributes the loss to increased general and administrative expenses.
Tata Steel is New Millennium’s majority shareholder with a 26.2% ownership stake. New …
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