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Enter Symbol
or Name
USA
CA



Labrador Iron Ore Royalty Corp
Symbol LIF
Shares Issued 64,000,000
Close 2015-04-20 C$ 12.14
Market Cap C$ 776,960,000
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Labrador Iron Ore royalty produces 3.59Mt Fe ore in Q1

2015-04-21 08:48 ET - News Release

Mr. Bruce Bone reports

LABRADOR IRON ORE ROYALTY CORPORATION - IOC PRODUCTION AND SALES FIGURES FOR THE FIRST QUARTER OF 2015

Labrador Iron Ore Royalty Corp. royalty company Iron Ore Company of Canada has released production and sales figures for the first quarter of 2015.

                       IRON ORE COMPANY OF CANADA PRODUCTION
  
                                          Q1     Q2     Q3     Q4   Total     Q1
Saleable iron ore production            2014   2014   2014   2014    2014   2015   
                                                                                
Concentrates (000 tonnes)              1,071  1,924  1,593  1,439   6,027  1,370  
Pellets (000 tonnes)                   1,934  2,104  2,322  2,388   8,748  2,223  
                                       -----  -----  -----  -----  ------  -----
Total iron ore production (000 tonnes) 3,005  4,028  3,915  3,827  14,775  3,593  

Concentrate for sales and pellet production in the first quarter of 2015 was 28 per cent and 15 per cent higher than the first quarter of 2014 due to increased asset reliability across the value chain, lower strip ratio and higher weight yield. When compared with the fourth quarter of 2014, CFS and pellet production was down by 5 per cent and 7 per cent, respectively, and this was due to seasonal factors which had historically penalized IOC's first-quarter production by 20 per cent to 25 per cent. The fact that the difference was only 5 per cent and 7 per cent in 2015 is a reflection that this seasonal impact has been largely offset by improved performance in the first quarter of 2015.

                                     SALES

                                       Q1     Q2     Q3     Q4   Total      Q1
                                     2014   2014   2014   2014    2014    2015   
    
Concentrates (000 tonnes)             633  1,904  2,288  1,246   6,071     711    
Pellets (000 tonnes)                1,876  1,931  1,996  2,402   8,205   2,490  
                                    -----  -----  -----  -----  ------   -----
Total iron ore sales (000 tonnes)   2,509  3,835  4,284  3,648  14,276   3,201  

First-quarter 2015 CFS shipments were 12 per cent higher than the first quarter of 2014, mainly driven by the moisture reduction project which helped move more CFS during winter months than last year. However, compared to the fourth quarter of 2014, harsh winter conditions still had significant impact on CFS movement, resulting in more CFS frozen on ground and a 43-per-cent reduction in CFS shipments in the first quarter of 2015.

First-quarter 2015 pellet shipments were 33 per cent and 4 per cent higher than the first quarter and fourth quarter of 2014, respectively, mainly driven by the improvements across the operations.

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