Canadian investment company Labrador Iron Ore Royalty Corporation has announced that Canada-based Iron Ore Company of Canada (IOC), a joint venture between Labrador Iron Ore Company and Australia-based Rio Tinto, has declared force majeure on its contracts following the fire at reclaimer No. 2 at IOC’s Sept-Îles port facilities on March 31.
The fire was brought under control and there were no injuries. The cause of the fire remains unknown and an investigation process is ongoing. IOC is still assessing the impact on its operations and is working with customers to minimize disruption.
In 2020, IOC produced 9.6 million mt of pellet and 8.1 million mt of iron ore concentrate, while its sales in the given year totaled 18.6 million mt, comprising of 10.2 million mt of pellet and 8.4 million mt of iron ore concentrate.
