/CNW/ - Today Rio Tinto released its quarterly operational report for the fourth quarter ending
Labrador Iron Ore Royalty Corporation
(TSX:LIF) - Rio Tinto releases IOC production
and sales information
TORONTO
,
Jan. 19, 2021
/CNW/ - Today Rio Tinto released its quarterly operational report for the
fourth quarter ending
December 31, 2020
, which included Iron Ore Company of
Canada
(IOC)
production and sales information. Specifically, Rio Tinto announced that in the fourth quarter of 2020,
IOC had total saleable iron ore production of 4.67 million tonnes, comprised of 2.46 million tonnes of
pellets and 2.21 million tonnes of concentrate for sale (CFS). Rio Tinto also announced that IOC
had total iron ore sales in the fourth quarter of 2020 of 4.59 million tonnes, comprised of 2.62 million
tonnes of pellets and 1.97 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 its website. Please note that the IOC sales tonnages are calculated slightly differently for the
LIORC Royalty. Rio Tinto also released IOC 2021 production guidance (pellets and CFS) of 17.9 to
20.4 million tonnes.
LIORC will be releasing its 2020 results of operations after the market close on
March 4, 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.
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 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 epidemics, changes affecting IOC's customers, competition
from other iron ore producers, estimates of reserves and resources and government regulation and
taxation. A discussion of these factors is contained in LIORC's annual information form dated
March
5, 2020
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
www.sedar.com
.
SOURCE
Labrador Iron Ore Royalty Corporation
View original content:
http://www.newswire.ca/en/releases/archive/January2021/19/c2292.html
%SEDAR: 00030172E
For further information:
John F. Tuer, President & Chief Executive Officer, (416) 362-0066, E-
mail- [email protected]
CO: Labrador Iron Ore Royalty Corporation
CNW 09:19e 19-JAN-21