India-based steel giant
Tata Steel Limited has announced that its Canadian subsidiary
Tata Steel Minerals
Canada (TSMC) has acquired the remaining 49 percent stake in the Howse
iron ore deposit in
Canada through its subsidiary Howse Minerals Limited by exercising its rights under the term of the joint venture agreement with Labrador Iron Mine Holdings signed in September 2013.
Howse Minerals already owned 51 percent of the
iron ore deposit and it bought the remaining stake for C$5 million. The Howse deposit has
iron ore resources of 28 million mt with 58 percent Fe content.