Tata Steel commissions feasibility study on LabMag and Kemag projects of Canada

Tata Steel has commenced the feasibility study on two Canadian iron ore mines, with estimated 5.6 billion tonne reserves, for possibly buying a stake in them to feed its European operations.

A feasibility study has been commissioned by the Board with regards to the LabMag and Kemag projects, results of which are awaited by the end of this year or early 2013.

The steel major has joined hands with Canadian firm New Millenium Capital Corp (NML) for conducting the study.

The two projects, LabMag and Kemag, are located near the Direct Shipping Ore project in Labrador, Canada, and have an estimated 5.6 billion tonnes of proven and probable iron ore reserves.

Source: ET