In a bid to boost raw material supplies to its European operations, Tata Steel is targeting to produce 1 million tonnes (MT) of iron ore from its project in Canada during the current fiscal. Moreover, the company is also aiming to ramp up the production from Direct Shipping Ore (DSO) Project to over 3 million tonnes next fiscal. The production is expected to begin from the October-December quarter.
Tata Steel Minerals Canada (TSMC), holds 80% stake in the DSO project. The Project contains 64.1MT of proven and probable reserves with average grade of 58.8% iron. Tata steel plans to invest 300 million Canadian dollars in the DSO project.
Tata Steel, the flagship company of the Tata group is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 Company.
