LABRADOR IRON ORE ROYALTY CORPORATION (TSX: LIF)
TORONTO, October 17, 2022 /CNW/ – Rio Tinto today released its quarterly operating report for the third quarter ending September 30, 2022, which included information on Iron Ore Company of Canada (“IOC”) production and sales. Specifically, Rio Tinto announced that in the third quarter of 2022, IOC had total marketable iron ore production of 4.73 million tonnes, consisting of 2.62 million tonnes of pellets and 2.11 million tonnes of concentrate for sale (“CFS”). Rio Tinto also announced that IOC achieved total iron ore sales in the third quarter of 2022 of 4.70 million tonnes, including 2.46 million tonnes of pellets and 2.24 million tonnes of CFS. Comparisons with previous quarters and Rio Tinto’s comments on the changes can be found in Rio Tinto’s Quarterly Operational Report which is published on their website. Please note that IOC sales tonnages are calculated slightly differently for the Labrador Iron Ore Royalty Corporation (“LIORC”) royalty.
LIORC will release its full third quarter report after market close on November 3, 2022.
About Labrador Iron Ore Royalty Corporation
The Company holds a 15.10% interest in IOC directly and through its wholly owned subsidiary, Hollinger-Hanna Limited, and receives a gross overriding royalty of 7% and a 10 cents commission per ton 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 could cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied. implied by these forward-looking statements. . Words such as “may”, “will”, “expect”, “believe”, “plan”, “intend”, “should”, “should”, “anticipate”, and others Similar terms 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 construed as guarantees of future performance or results, and will not necessarily be precise indications of whether or not such results will be achieved. A number of factors could cause actual results to vary materially, including volatility in iron ore prices and volumes, currency exchange rates, IOC’s performance, 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, reserve estimates and resources, government regulation and taxation and cybersecurity. An analysis of these factors is contained in LIORC’s Annual Information Form dated March 11, 2022 under the heading “Risk Factors”. Although the forward-looking statements contained in this press release are based on what LIORC management believes to be 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 undertakes no obligation, except as required by law, to update the forward-looking statements to reflect new events or circumstances. This press release should be read in conjunction with LIORC’s other public documents, copies of which may be obtained electronically on SEDAR at www.sedar.com .
SOURCE Labrador Iron Ore Royalty Corporation
For further information: please contact: John F. Tuer, President and CEO, (416) 362-0066, email- [email protected]
