TORONTO, Oct. 15, 2020 /CNW/ - Today Rio Tinto released
its quarterly operational report for the third quarter ending
September 30, 2020, which included
Iron Ore Company of Canada (IOC)
production and sales information. Specifically, Rio Tinto announced
that in the third quarter of 2020, IOC had total saleable iron ore
production of 3.99 million tonnes, comprised of 2.22 million tonnes
of pellets and 1.77 million tonnes of concentrate for sale
(CFS). Rio Tinto also announced that IOC had total iron ore
sales in the third quarter of 2020 of 4.65 million tonnes,
comprised of 2.35 million tonnes of pellets and 2.31 million tonnes
of CFS. Comparisons to prior quarters and Rio Tinto's commentary on
the changes can be found in Rio Tinto's quarterly operational
report which is posted on their website. Please note that the
IOC sales tonnages are calculated slightly differently for the
LIORC Royalty.
LIORC will be releasing its full third quarter report after the
market close on November 5, 2020.
About Labrador Iron Ore Royalty Corporation
The Corporation holds a 15.10% equity interest in IOC directly
and through its wholly-owned subsidiary, Hollinger-Hanna Limited,
and receives a 7% gross overriding royalty and a 10 cent per tonne commission on all iron ore
products produced, sold and shipped by IOC.
SOURCE Labrador Iron Ore Royalty Corporation