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New Millenium Iron (TSX:NML) will holds its annual general and special meeting of shareholders in Toronto on Thursday, June 23 2016. As quoted in the press release: Holders of common shares of record at the close of business on May 24, 2016 (the “Record Date”) will be entitled to vote such common shares at the …
New Millenium Iron (TSX:NML) will holds its annual general and special meeting of shareholders in Toronto on Thursday, June 23 2016.
As quoted in the press release:
Holders of common shares of record at the close of business on May 24, 2016 (the “Record Date”) will be entitled to vote such common shares at the Meeting.
Details of the business proposed to be conducted at the Meeting will be contained in the Company’s Notice of Meeting and Management Proxy and Information Circular to be issued shortly after the Record Date.
About New Millennium
The Company is a Canadian iron ore development company with an extensive property position in Canada’s principal iron ore district, the Labrador Trough, straddling the Province of Newfoundland and Labrador and the Province of Québec, in the Menihek Region around Schefferville, Québec. The Company’s project areas are connected via a well-established, heavy-haul rail network to the Port of Sept-Îles, Québec, where the Company is among the investors in a new deep-water iron ore loading dock.
In addition to having a management team experienced with the technical, environmental and commercial aspects of Labrador Trough ores, the Company is in a strategic partnership with Tata Steel, a global steel producer and industry leader. Tata Steel owns approximately 26.2% of the Company and is the Company’s largest shareholder.
Together through Tata Steel Minerals Canada Ltd., which is owned 94% by Tata Steel and 6% by the Company, the two companies have developed a direct shipping ore (“DSO”) project that is producing and shipping sinter fines.
Beyond the DSO project, the Company offers further development potential through seven, long-life taconite properties capable of producing high quality pellets and pellet feed to service the requirements of steel makers with either blast furnace or direct reduced iron making operations. Two of these deposits – LabMag and KéMag – were the subject of large-scale development feasibility studies carried out by the Company and Tata Steel and published in March 2014.
With these feasibility study results as a foundation and all seven taconite properties now explored to a NI 43-101 compliant resource, the Company can optimize its taconite development strategy and is currently focused on a smaller market entry project.