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