Tata Steel Ltd.

Tata Steel through its subsidiary Tata Steel Minerals Canada (TSMC), entered into a framework arrangement with Labrador Iron Mines Holdings (LIM) to establish a strategic relationship between TSMC and LIM whereby the two companies have agreed to co-operate with each other in various aspects of their respective iron ore operations in the Labrador Trough.

The Labrador Trough is a 1,100-kilometre long, 160-kilometre wide iron ore bed in the Labrador- Quebec region in Canada. The trough has delivered more than 2 billion tonnes of ore in last 50 years and has attracted mining investments of $15 billion from leading global companies. It is estimated that the annual iron ore production of this region would increase from current 35 million tonnes to about 65 million tonnes by 2015.

LIM and TSMC operate adjacent DSO iron ore projects spread over the Provinces of Newfoundland & Labrador and Quebec. Having plans to potentially utilize the same infrastructure, both companies have decided to work together to exploit the significant scope of synergies in operations and logistics.