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Genesee & Wyoming Inc. And Tata Steel Minerals Canada Ltd. Sign Rail Services Agreement; GWI Subsidiary To Construct And Operate 21-Kilometer Rail Line In The Labrador Trough

About Tata Steel Minerals Canada LimitedTata Steel Minerals Canada Limited (TSMC) is a joint venture established in October 2010 by Tata Steel Ltd. and New Millennium Iron Corp. (TSX: NML). Tata Steel owns 80% and NML owns 20% stake in TSMC. TSMC is part of the Tata Steel Group of companies which is a Fortune 500 company and is among the top 10 producers of steel in the world. The Tata Steel group has over 80,000 employees spread over 5 continents. TSMC is developing iron ore deposits in Quebec and Newfoundland & Labrador in Canada.

TSMC is currently engaged in two main activities:

DSO ProjectTSMC is developing the Direct Shipping Ore (DSO) project which involves mining, crushing, washing, screening and shipping the sinter fines and pellet fines to Tata Steel's European steel making facilities.

Taconite ProjectTSMC is also involved with New Millennium Iron Corp. in undertaking a Feasibility Study of the LabMag and KeMag iron ore deposits which form a part of the 150-km long Millennium Iron Range in northern Canada.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Genesee & Wyoming's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-K for the most recently ended fiscal year.



Copyright Business Wire 2010
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