Labrador Iron Ore Royalty
Corporation (the "Corporation") announced that it has been advised by
Iron Ore Company of Canada ("IOC") that on March 31, 2021, there was a
fire at reclaimer no. 2 at IOC's Sept-Îles port facilities. The fire was
brought under control and there were no injuries. The cause of the fire
remains unknown at this time, and an investigation process is ongoing
and IOC is still assessing the impact on its operation. IOC has declared
force majeure on its contracts and is working with customers to minimize
disruption.
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.
Source: Labrador Iron Ore
Royalty Corporation |
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