Base Metals

 The Directors of Labrador Iron Ore Royalty Corporation (the "Corporation") (TSX: LIF) declared today a quarterly cash dividend of $1.75 per Common Share. The dividend is payable to holders of record at the close of business on June 30, 2021 and is to be paid on July 26, 2021 .

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

Cision View original content: http://www.newswire.ca/en/releases/archive/June2021/15/c9511.html

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LABRADOR IRON ORE ROYALTY CORPORATION - RESULTS FOR THE SECOND QUARTER ENDED JUNE 30, 2022

Labrador Iron Ore Royalty Corporation ("LIORC"), (TSX: LIF) announced today its operation and cash flow results for the second quarter ended June 30, 2022 .

Financial Performance

In the second quarter of 2022, LIORC's financial results were negatively affected by lower iron ore prices, partially offset by higher pellet premiums and higher volumes of pellets and concentrate for sale ("CFS") sales. Royalty revenue for the second quarter of 2022 amounted to $65.9 million compared to $78.8 million for the second quarter of 2021. Equity earnings from Iron Ore Company of Canada ("IOC") were $47.2 million in the second quarter of 2022 compared to $66.2 million in the second quarter of 2021. Net income per share for the second quarter of 2022 was $1.23 per share, which was a 29% decrease over the same period in 2021. The adjusted cash flow per share for the second quarter of 2022 was $0.88 per share, which was 52% lower than in the same period in 2021, as a result of lower royalty revenues and because LIORC received a dividend from IOC in the amount of $19.6 million from IOC in the second quarter of 2022, compared to a dividend from IOC in the amount of $74.4 million in the second quarter of 2021.

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iron ore mine

Top 5 ASX Iron Stocks of 2022

Iron ore, which is largely used for steel production, is necessary for the maintenance of a robust industrial base. Australia dominates the global iron market, producing over one-third of iron ore worldwide, making Australian iron mining companies a solid pick for investors.

Though steels stocks were in decline throughout the past year, iron miners nevertheless continued to gain ground. In March 2022, Australian mining stocks hit a seven-month peak, with iron ore production continuing to climb. Iron ore remains Australia’s number one export and can mostly be found in Western Australia.

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Top 10 Iron-producing Countries (Updated 2022)

Top 10 Iron-producing Countries (Updated 2022)

Iron ore prices displayed much volatility in 2021, rising to record highs only to fall more than 60 percent by year’s end.

Prices for the base metal reached a record high of over US$220 per tonne in May 2021, before declining to a low of US$84.50 in November. Analysts point to curbed demand from China alongside rising supply levels as the mechanism by which prices dropped in late 2021.

While iron ore prices have rebounded to the US$138 per tonne level as of early June 2022 on supply issues from Australia and Brazil as well as higher export duties in India and the Russia-Ukraine war, there are still concerns that “slowing global growth will hit metals demand and limit the metal's upside momentum,” Trading Economics reports.

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iron ore mining process

3 Biggest ASX Iron Companies in 2022

Like many industries, the mining industry was impacted by the pandemic, but for iron ore, the effect was slightly different.

Since 2016 the price of iron had been on a slow steady rise; however, in the spring and early summer of 2021, iron ore spiked to a high of AU$294.03. This lasted only a short while as prices plummeted to AU$131.97 in the latter half of 2021.

This was the result of demand and supply chains playing cat and mouse. In response to the pandemic, China — the world’s biggest producer of steel — began major construction to keep the economy afloat. Iron ore suppliers around the world were short-staffed and unable to keep up with the demand due to COVID-19. Large demand and short supply meant higher prices, but when the suppliers finally returned to work, the demand was no longer present. Production was also paused during the 2022 Winter Olympics in Beijing.

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LABRADOR IRON ORE ROYALTY CORPORATION - CASH DIVIDEND FOR THE SECOND QUARTER OF 2022 - $0.90 PER COMMON SHARE

The Directors of Labrador Iron Ore Royalty Corporation (the "Corporation") (TSX:LIF) declared today a quarterly cash dividend of $0.90 per Common Share. The dividend is payable to holders of record at the close of business on June 30, 2022 and is to be paid on July 26, 2022 .

About Labrador Iron Ore Royalty Corporation

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IRON ORE COMPANY OF CANADA DIVIDEND

Labrador Iron Ore Royalty Corporation ("LIORC") announced that Iron Ore Company of Canada ("IOC"), in which LIORC holds a 15.1% equity interest, has declared a dividend to be paid in June.  LIORC's portion of the IOC dividend is U.S. $15.1 million or about CDN. $19.2 million . For further clarity, this announcement refers to the declaration of an IOC dividend to be received by LIORC and is NOT the declaration by LIORC of a dividend to be paid to LIORC shareholders.  LIORC typically declares a second quarter dividend in June based on the total amount of cash expected to be received in the quarter, including the IOC dividend.

SOURCE Labrador Iron Ore Royalty Corporation

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