Tata Steel suspends operations at Canadian iron ore project

“This action is in response to presently challenging conditions in the steel and iron ore markets and is expected to be reviewed on an ongoing basis. The number of TSMC employees affected will be based on operational needs, including services and maintenance,” the Toronto Stock Exchange-listed NML said in a filing

Tata Steel has suspended operations at its Canadian iron ore mining and processing project, reports a financial newspaper.

Though the company has not disclosed any reason for the suspension, its junior partner in Canada, New Millennium Iron Corp (NML) announced that Tata Steel Minerals Canada (TSMC) temporarily scaled down winter operations, including stabilisation activities of the all-season ore processing plant at its direct shipping ore (DSO) project, reports the paper.

“This action is in response to presently challenging conditions in the steel and iron ore markets and is expected to be reviewed on an ongoing basis. The number of TSMC employees affected will be based on operational needs, including services and maintenance,” the Toronto Stock Exchange-listed NML said in a filing. 

Tata Steel holds a 94 per cent stake in TSMC.

Tata Steel’s Canadian DSO project comprises 25 hematite deposits with a resource potential of 122 million tonnes.

The DSO project, located in the sub-arctic zone of eastern Canada, comprises mining, crushing, washing, screening and drying to produce 4.2 million tonnes per year of sinter fines and pellet feed.