Mining company hands out scholarships in Kuujjuaq
New Millennium, with Tata Steel, wants to develop huge iron mines south of Kuujjuaq
Fifteen proud students from Jaanimmarik School in Kuujjuaq walked up the podium at the Katittavik town hall June 14 to pick up $500 scholarships from the New Millennium Iron Corp., which wants to develop a huge mining complex near Schefferville.
Kayla Lauzon, Paasa Lemire, Navarana Kleist Duncan, Nathan Okpik, Lucina Gordon, Lucina Sheba Saunders, Tukai Jonas, Steven Snowball Suppa, Taamusi Saunders, Jeannie Gordon, Shanna Gordon, Annette Carrier, Christina Savard, Anne-Marie Kauki and Harriet Koneak each received $500 in recognition of their improved academic performance and effort during the 2011-12 school year.
The mining company supported the program “to counter the phenomenon of student dropout in the aboriginal communities that may be impacted by the future mining projects of NML.”
New Millennium is a publicly-traded Canadian iron ore exploration and development company, which controls a 210-kilometre long magnetic iron ore (taconite) belt called the Millennium Iron Range near Schefferville, Quebec. The company’s vision: “to become a significant, low cost iron ore producer in North America by the end of this decade.”
Production for the company’s DSO Project, near Schefferville and the Labrador-Newfoundland border, is expected to begin in late 2012, with mining, crushing, washing, screening and shipping iron ore to Tata Steel’s European steel making facilities.
Tata, one of the largest steel makers in the world, is a 27 per cent owner of New Millennium and owns 80 per cent of the DSO project while New Millennium holds the remaining 20 per cent.
The two are also working to develop an even larger iron mine project, the sprawling Taconite project, which consists of two deposits: the LabMag deposit located in the Newfoundland-Labrador and the Kémag deposit located in Quebec.
Tata has agreed to pay up to $4.85 billion to develop the two deposits.
A $50 million feasibility study, expected to be completed by the end of the year, is under way for the two deposits.
The Kémag deposit, located 50 kilometres north of Schefferville within Nunavik, could produce an estimated 20 million tonnes of iron concentrate a year, according to company documents.