|The TEX Report Topics < Iron Ore >|
|HOME >> Topics List >> April, 2012 >> 19 (Thu)|
|Canada's IOC Production And Sales For Jan-Mar 2012|
|= Production at 2.847 million tonnes, Sales at 2.354 million tonnes =|
Canada's pellets producer, Iron Ore Company of Canada (IOC) produced 2.847 million tonnes of pellets and concentrate in total for Jan-Mar 2012, an 11.8% increase from the same period the previous year. On the other hand, the total sales of pellets and concentrate decreased by 7.8% to 2.354 million tonnes. Its majority shareholder, Rio Tinto announced.|
The breakdown of production and sales for the period is as follows: <Production> pellets 2.326 million tonnes (down 8.6%), concentrate 521,000 tonnes (0 tonne in Q1 2011), <Sales> pellets 1.853 million tonnes (down 18.5%), concentrate 501,000 tonnes (up 78.3%). Production and sales of pellets decreased while those of concentrate increased.
IOC is expanding its production capacity. Commissioning of the first phase expansion project, lifting capacity to 22 Mtpa, continued. The phase two expansion to 23.3 Mtpa is progressing, with first production expected in late 2012.
IOC's shareholders are Rio Tinto (58.72%), Mitsubishi Corporation (26.18%), and LIORIF (Labrador Iron Ore Royalty Income Fund) (15%).
|last modified : Tue 24 Apr, 2012 [10:48]|