Iron Ore shipment agreement

New Millennium Capital Corp. has signed an agreement with the Sept-Iles Port Authority for the shipment of iron ore products from its DSO properties over the SIPA owned dock at Pointe Noire, Quebec. The Port of Sept-Iles operates year round and is the largest shipper of iron ore products in North America. The release said the agreement ensures that New Millennium will have the right to export its products over the SIPA owned dock at Sept-Iles at competitive and established long term wharfage rates. The company’s expectation is to start production in 2011 reaching shipments of 4 million tns/yr by 2013, subject to regulatory approvals, advanced engineering and procurement.
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