Labrador Iron Ore Royalty Corporation - Iron Ore Company of Canada Reaches Agreement with Innu Communities

Labrador Iron Ore Royalty Corporation (the "Corporation") announced today that it has been advised that the Innu communities of Uashat mak Mani-utenam and Matimekush-Lac John signed a Reconciliation and Collaboration Agreement with the Iron Ore Company of Canada ("IOC").

The life of mine agreement lays the groundwork for a mutually beneficial relationship based on dialogue, collaboration and trust between the company and the two communities over the coming decades. Among other things, it will facilitate greater participation from the communities in IOC's activities such as training and development, employment, collaboration on environmental projects, procurement partnerships and will provide them with financial benefits.

The agreement also calls for an end to the legal action initiated by Uashat mak Mani- utenam and Matimekush-Lac John against IOC, allowing IOC to continue its activities in Sept-Îles and Labrador City and its economic contributions to Labrador West and the North Shore.

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: https://www.newswire.ca/en/releases/archive/December2020/04/c4820.html

News Provided by Canada Newswire via QuoteMedia

The Conversation (0)
Hands holding crushed iron ore.

Cyclone Reports "World Class" Pellets from Pilot Pellet Run

The Iron Bear project in Canada has completed its pilot pellet production run, owner and operator Cyclone Metals( ASX:CLE) said on Thursday (October 10).

“We have successfully produced Direct Reduction (DR) Pellets. This is a major milestone for the Iron Bear project. Our DR pellets demonstrated excellent physical and metallisation properties,” CEO Paul Berend said in a press release.

The project returned direct reduction pellets grading 67.5 percent iron, 1.6 percent silica, 0.12 percent magnesium oxide, 0.65 percent calcium oxide and ultra-low deleterious elements.

Keep reading...Show less
Burley Minerals

Exploration License Granted over Cane Bore Iron Project

Burley Minerals Limited (ASX: BUR, “Burley” or “the Company”) is pleased to announce that Exploration License E08/3424 (the Cane Bore Iron Project) was granted by The Department of Energy, Mines, Industry Regulation and Safety (DEMIRS). Cane Bore is located within the world class Pilbara Province of the Western Australia and located less than 100 km by sealed road from the export Port of Onslow.

Keep reading...Show less
Three haul trucks.

Fortescue Seals US$2.8 Billion Deal with Liebherr to Develop Zero-emission Mining Fleet

Fortescue (ASX:FMG,OTCQX:FSUMF) said on Wednesday (September 25) that it has entered into a US$2.8 billion agreement with German-Swiss manufacturer Liebherr to develop zero-emission mining equipment.

The partnership will result in the deployment of 475 Liebherr machines, including 360 battery-electric trucks, 55 electric excavators and 60 battery-powered dozers, to Fortescue’s mining operations in Western Australia.

Liebherr and Fortescue will also develop a fully autonomous battery-electric haulage system for large-scale mining, integrating the latter company's Zero's battery technology into the equipment.

Keep reading...Show less
Onslow Iron haul road.

Mineral Resources Completes AU$1.3 Billion Sale of Stake in Onslow Iron Haul Road

Mineral Resources (ASX:MIN,OTC Pink:MALRF) has completed the sale of a 49 percent interest in the Onslow Iron haul road to investment funds managed by Morgan Stanley Infrastructure Partners (MSIP).

MSIP, a private infrastructure investment platform within Morgan Stanley Investment Management, paid Mineral Resources upfront cash consideration of AU$1.1 billion on Tuesday (September 24).

While that payment marked the completion of the transaction, MSIP is required to issue an additional AU$200 million in cash if the haul road achieves a run rate of 35 million tonnes per year for any quarter before June 30, 2026.

Keep reading...Show less
Allup Silica Limited

Allup Prepares for Drilling at McLaren Mineral Sands Project, WA

Allup Silica Limited (ASX: APS) (“Allup” or “Company”) is pleased to provide an update on works to progress development of its 100%-owned McLaren Valuable Heavy Mineral Sands (VHMS) Project near Balledonia, WA.

Keep reading...Show less

LABRADOR IRON ORE ROYALTY CORPORATION - CASH DIVIDEND FOR THE THIRD QUARTER OF 2024 - $0.70 PER COMMON SHARE

The Directors of Labrador Iron Ore Royalty Corporation (the "Corporation") (TSX: LIF) declared today a quarterly cash dividend of $0.70 per Common Share. The dividend is payable to holders of record at the close of business on September 27, 2024 and is to be paid on October 28, 2024 .

Labrador Iron Ore Royalty Corporation Logo (CNW Group/Labrador Iron Ore Royalty Corporation)

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 on all iron ore products produced, sold and shipped by IOC and a 10 cent per tonne commission on all iron ore products produced and sold by IOC.

SOURCE Labrador Iron Ore Royalty Corporation

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2024/13/c4639.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×