Base Metals

Iron Ore Company of Canada ("IOC") has provided Labrador Iron Ore Royalty Corporation (the "Corporation") with the following update on the situation at IOC's Sept-Îles port facilities following the fire at Reclaimer no. 2.

After initial assessment of the damages, IOC estimates that repairs to Reclaimer no. 2 will be completed in Q4-2021.

Currently, Reclaimer no. 1 is in full operation and IOC is also able to by-pass the damaged reclaimer and load ore directly from the train dumper. In addition, IOC has deployed mobile tele-stackers which enable IOC to load ore from its stockyard on a conveyor belt.  IOC advised that despite the interim loading solutions IOC is operating at a reduced rate compared to its nominal capacity and the force majeure declarations remain in effect.

IOC has advised that the 2021 production guidance remains unchanged at 17.9 to 20.4 million tonnes and IOC expects that, while sales tonnages in the second quarter will be negatively affected, most of the shortfall will be recovered during the remainder of the year.

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.

Forward-Looking Statements
This press release may contain "forward-looking" statements that involve risks, uncertainties and other factors that may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Words such as "may", "will", "expect", "believe", "plan", "intend", "should", "would", "anticipate" and other similar terminology are intended to identify forward-looking statements. These statements reflect current assumptions and expectations regarding future events and operating performance as of the date of this press release. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly, including the timing and costs of repairs to Reclaimer no. 2, the effectiveness of IOC's interim loading solutions, iron ore price and volume volatility, exchange rates, the performance of IOC, market conditions in the steel industry, mining risks and insurance, relationships with indigenous groups, natural disasters, severe weather conditions and public health crises, changes affecting IOC's customers, competition from other iron ore producers, estimates of reserves and resources, government regulation and taxation and cybersecurity.  A discussion of these factors is contained in LIORC's annual information form dated March 4, 2021 under the heading, "Risk Factors". Although the forward-looking statements contained in this press release are based upon what management of LIORC believes are reasonable assumptions, LIORC cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release and LIORC assumes no obligation, except as required by law, to update any forward-looking statements to reflect new events or circumstances. This press release should be viewed in conjunction with LIORC's other publicly available filings, copies of which can be obtained electronically on SEDAR at .

SOURCE Labrador Iron Ore Royalty Corporation

Cision View original content:

News Provided by Canada Newswire via QuoteMedia

Labrador Iron Ore Royalty Corporation Announces Results of Election of Directors

Labrador Iron Ore Royalty Corporation (the " Corporation ") (TSX: LIF) announced the results of the election of directors at its annual meeting of holders of common shares held today by way of a virtual meeting.

The following nominee directors listed in the Corporation's management information circular dated April 8, 2022 were elected as directors of the Corporation. The vote was conducted by electronic ballot. The number of common shares voted for the election of each director or withheld was as indicated below:

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less


Labrador Iron Ore Royalty Corporation ("LIORC") (TSX: LIF) announced today its operation and cash flow results for the first quarter ended March 31, 2022 .

Financial Performance

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Types of Iron Ore: Hematite vs. Magnetite

Types of Iron Ore: Hematite vs. Magnetite

Knowing about the different types of iron ore is useful for investors interested in the space.

Iron, a key material in steel and other applications, is most often found in hematite and magnetite ores, though goethite, limonite and siderite ores are also common sources.

Below the Investing News Network has put together an overview of some basic information about hematite and magnetite ores, including what they are and where they’re found. Keep reading to learn more.

Keep reading...Show less
iron ore mine

Iron Ore in Australia

It is more common than air, but invaluable to our society. We use it to build, craft and make steel and other alloys, and it shows up in everything from buildings to utensils.

Iron is one of the fundamental elements used by humans. It makes sense, then, to consider iron as an investment opportunity. The ubiquity of the metal, not just in our environment, but in our daily life, shows off its value. That value can be translated into an investor's portfolio.

When we specifically talk about iron in Australia, we are talking about the largest export in the country — it just narrowly edges out coal. Both the price and the production of iron has increased over the past five years, with most of Australia's iron being produced in Western Australia.

Keep reading...Show less

M3 Metals Corp.

M3 Metals Corp is a Canadian listed company. The company's business is to acquire, explore, and develop interests in mineral properties located in North America. Its only operating segment, being the acquisition and exploration of assets. The company's projects include Mohave Mine Gold; Aspen Gold; and Block 103 Iron Ore projects.

Rockex Mining Corporation

Rockex Mining Corp is a Canadian based mineral exploration company. It is principally engaged in the exploration and evaluation of mineral properties. The company is involved in iron ore mining that focuses on the development of its Lake St. Joseph iron ore deposit.

Latest Press Releases

Related News