Tata Steel has suspended operations at its Canadian iron ore-mining and processing project this month. Though the steel major has not disclosed anything regarding the development, its junior partner in Canada, New Millennium Iron Corp (NML) announced that the project execution firm 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.
“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”, Toronto Stock Exchange listed NML said in a filing. Tata Steel holds 94 per cent interest in TSMC.
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