New Millennium Iron sends first iron ore seaborne shipment to Europe

Canadian iron ore producer New Millennium Iron has made its first seaborne iron ore shipment from its direct shipping ore (DSO) project, it announced recently.

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The MV Panamax Sterling, carrying a cargo of about 77,000 tonnes of iron ore sinter fines, departed from the Iron Ore Company of Canada’s terminal at Sept-Iles, in Quebec, and will discharge in Europe for Tata Steel Europe’s plants.

Shipments through the Sept-Iles terminal are an interim step as Tata Steel Minerals Canada awaits the completion of arrangements for access to its new Pointe Noire Dock in Quebec.

The DSO project is owned and operated by Tata Steel Minerals Canada, which is 80%-owned by Tata Steel and 20%-owned by New Millennium Iron.

The project is located in the adjacent provinces of Newfoundland & Labrador and Quebec, and has 64.1 million tonnes of proven and probable mineral reserves at an average grade of 58.8% Fe content.

Commercial sales of iron ore are expected to begin soon.