India-headquartered steel giant Tata Steel Group has announced that its subsidiary TS Global Minerals Holdings and the government of Quebec, Canada, have signed an agreement-in-principle to develop iron ore deposits in Quebec to help Tata Steel’s Canadian subsidiary Tata Steel Minerals Canada (TSMC), which is completing a direct shipping ore project (DSO project) at Schefferville, reduce its raw material costs. With the agreement, the parties also agreed to cooperate in creating favorable conditions in the transit activities of iron ore from Arnaud Junction to the multi-user dock of the Port of Sept-Iles.
Jacques Daoust, minister of the economy, innovation and exports in Quebec, stated that, further to creating considerable economic benefits for Quebec, the DSO project is contributing to the revival of the town of Schefferville, with among others, significant investments in the community infrastructure. Tata Steel Minerals Canada is also a partner in the construction of the multi-user dock of the Port of Sept-Iles and a strong ally in maintaining industrial activities in the North Shore region, Mr. Daoust added.