Tue,March01,2011
March 1 - New Millennium Capital Corp said late Monday it has agreed to extend an iron ore project exclusivity agreement with India's Tata Steel , which could potentially feed the world's No.7 steelmaker's European unit.
Both companies have mutually agreed to extend the exclusivity period to March 7 from February 28, New Millennium (NML) said.
Tata Steel and NML shall continue to work toward negotiating a binding agreement for the development and operation of the LabMag and KeMag iron ore projects, the company said.
NML had extended Tata's exclusivity right twice -- once by 18 months till the end of last year and once till Feb. 28. (Edited by Reuters)
Tags :LabMag iron ore project, KeMag iron ore project, steel mills, steelmaking
Both companies have mutually agreed to extend the exclusivity period to March 7 from February 28, New Millennium (NML) said.
Tata Steel and NML shall continue to work toward negotiating a binding agreement for the development and operation of the LabMag and KeMag iron ore projects, the company said.
NML had extended Tata's exclusivity right twice -- once by 18 months till the end of last year and once till Feb. 28. (Edited by Reuters)
Tags :LabMag iron ore project, KeMag iron ore project, steel mills, steelmaking
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