Tata Steel Minerals Canada (TSMC) and the NunatuKavut Community Council (NCC) have signed a cooperation agreement for the Direct Shipping Ore (DSO) project. TSMC is a joint venture between Tata Steel and New Millennium Iron (NML), which have 80 per cent and 20 per cent interests, respectively.
TSMC is developing iron-ore deposits in the Canadian provinces of Quebec, Newfoundland and Labrador. TSMC is part of Tata Steel Group of companies. NCC is the aboriginal organization representing the Southern Inuit of Labrador. The aboriginal organization from Labrador and the mining company have been in negotiations for many months to form an agreement that addresses issues of concern for NCC and provides socio-economic benefits to NCC and its people. The agreement covers environmental protection, employment and business opportunities including financial benefits.
“This is another indication that we can do so in an air of mutual respect,” said CEO and MD of TSMC, Rajesh Sharma. “We are very happy to sign this agreement with NunatuKavut Community Council, which attests our desire to continue building positive relations with the communities. The signing of this agreement is an important milestone in the journey of TSMC.”