TORONTO, March 19, 2021 /CNW/ - Clayton Walker, the President and Chief
Executive Officer of Iron Ore Company of Canada (IOC), has announced that he has
accepted a role in the Rio Tinto Copper product group as the Chief
Operating Officer, Copper, based in Salt
Lake City. As a result, Clayton will be stepping down as
IOC's President and CEO effective April
16. A search for his replacement is underway, and in the
interim, Donald Tremblay, the Chief
Financial Officer of IOC, will be acting CEO. Clayton will stay on
as Chairman of the board of directors of IOC until a replacement is
identified to ensure continuity and a smooth transition.
The management and directors of Labrador Iron Ore Royalty
Corporation would like to thank Clayton for his dedicated and
effective leadership of IOC and wish him continued success in his
new role within Rio Tinto. During his tenure as CEO, IOC made
significant operational and partnership advancements that positions
IOC as a premier producer of high quality iron ore products.
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