Labrador Iron ORE Royalty Corporation (Tsx:lif) - RIO Tinto Releases Ioc Production and Sales Information
LABRADOR IRON ORE ROYALTY
CORPORATION (TSX:LIF) - RIO TINTO
RELEASES IOC PRODUCTION AND SALES
INFORMATION
TORONTO
,
Jan. 15, 2025
/CNW/ - Rio Tinto released its quarterly operational report for the fourth
quarter ending
December 31, 2024
, which included Iron Ore Company of
Canada
("IOC") production
and sales information. Specifically, Rio Tinto announced that in the fourth quarter of 2024, IOC had
total saleable iron ore production of 4.31 million tonnes, comprised of 2.50 million tonnes of pellets
and 1.81 million tonnes of concentrate for sale ("CFS"). Rio Tinto also announced that IOC had total
iron ore sales in the fourth quarter of 2024 of 4.25 million tonnes, comprised of 2.31 million tonnes of
pellets and 1.94 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 Labrador Iron
Ore Royalty Corporation's ("LIORC") royalty.
Rio Tinto also released IOC's 2025 production guidance (pellets and CFS) of 16.5 to 19.4 million
tonnes.
LIORC will be releasing its full 2024 Annual Report after the market close on
March 11, 2025
.
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.
Forward-Looking Statements
This report 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 report. 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;
the performance of IOC; market conditions in the steel industry; fluctuations in the value of the
Canadian and U.S. dollar; mining risks that cause a disruption in operations and availability of
insurance; disruption in IOC's operations caused by natural disasters, severe weather conditions and
public health crises, including the COVID-19 outbreak; failure of information systems or damage
from cyber security attacks; adverse changes in domestic and global economic and political
conditions; changes in government regulation and taxation; national, provincial and international laws,
regulations and policies regarding climate change that further limit the emissions of greenhouse
gases or increase the costs of operations for IOC or its customers; changes affecting IOC's
customers; competition from other iron ore producers; renewal of mining licenses and leases;
relationships with indigenous groups; litigation; and uncertainty in the estimates of reserves and
resources. A discussion of these factors is contained in LIORC's annual information form dated
March 12, 2024
under the heading, "Risk Factors". Although the forward-looking statements
contained in this report 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
report and LIORC assumes no obligation, except as required by law, to update any forward-looking
statements to reflect new events or circumstances. This report should be viewed in conjunction with
LIORC's other publicly available filings, copies of which can be obtained electronically on SEDAR+ at
www.sedarplus.ca
.
SOURCE
Labrador Iron Ore Royalty Corporation
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For further information:
For further information, please contact: John F. Tuer, President & Chief
Executive Officer, (416) 362-0066, E-mail- [email protected]
CO: Labrador Iron Ore Royalty Corporation
CNW 18:23e 15-JAN-25