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| IOC Of Canada Sets Record Iron Ore Production At 15.5 Mt In 2005 |
| = 86% accounted for by pellets at 13.33 Mt |
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According to calendar 2005 business results released by Rio Tinto, iron ore production and shipments in the period at its Canadian iron ore operator IOC (Iron Ore Company of Canada) set record highs at 15.55 million tons - Mt (of which pellets share 86%), and 14.97 Mt (ditto 86%), respectively, largely underpinned by thriving pellet demand. [Production] A total of 15.547 Mt combining 2.316 Mt of concentrates (up 69.1% over 2004) and 13.331 Mt of pellets (up 34.5%) was produced in 2005, an increase of 4.408 Mt or 39.6% from the previous year's output of 11.139 Mt. [Shipments] 2.123 Mt of concentrates and 12.851 Mt of pellets totaling 14.974 Mt were shipped out during the period, with each increasing 29.6%, 30.6% and 75.6% over the levels of 2004. [Outline of IOC] IOC is a Canadian leading iron ore supplier, mining currently at the two pits, Luce and Humphrey Main pertaining to Carol Lake Mine in the Province of Newfoundland. Products mined are railed 420 km to Seven Islands in Quebec for pelletization process and export to overseas customers. The Company is owned 58.7% by North Limited (a wholly owned subsidiary of Rio Tinto), 25.0% by Mitsubishi Corp and 16.3% Labrador Iron Ore Royalty Income Fund. |
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| last modified : Thu 26 Jan, 2006 [10:38] |
