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Canada
Carol Lake Mine

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 Location:
0 km from Labrador City, Newfoundland and Labrador, Canada

  Address:
P.O. Box 1000
Labrador City
Newfoundland and Labrador, Canada
A2V 2Y6
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Personnel
  • Filings & News

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Overview

StageProduction
Mine TypeOpen Pit
Commodities
  • Iron
Mining Method
  • Truck & Shovel / Loader
Production Start...
Mine Life24 years (as of Jan 1, 2022)
Iron Ore Company currently operates open pit mines, a concentrator and a pellet plant in Labrador City, and transports its products along a 418 kilometre (km) railway to its port facilities in Sept-Îles, Quebec on the St Lawrence Seaway.
Latest NewsLabrador Iron Ore Royalty Corporation - 2022 Results Of Operations     March 7, 2023


Owners

Source: p. 7
CompanyInterestOwnership
Labrador Iron Ore Royalty Corp. 15.1 % Indirect
Mitsubishi Materials Corp. 26.18 % Indirect
Rio Tinto plc 58.72 % Indirect
IOC is currently owned by three shareholders, and their respective interests in IOC are as follows: Rio Tinto 58.72%, Mitsubishi Corporation 26.18% and Labrador Iron Ore Royalty Corp. (LIORC) 15.10%.

Contractors

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Deposit Type

  • Metamorphic


Summary:

The Labrador Trough consists of Paleoproterozoic sedimentary and volcanic rocks, which extend along the eastern margin of the Archean Superior Craton to Ungava Bay. It forms the western part of a larger orogenic belt called the New Québec Orogen. In southwestern Labrador, the Labrador Trough extends into the younger Grenville Province, where the sedimentary rocks were deformed and metamorphosed.

Iron-ore deposits in the Labrador Trough are hosted in the Sokoman Formation, which sits toward the top of the shelf sequence, above a thick package of shale, dolostones, and siliciclastic rocks. The Sokoman Formation consists of a 30–170-m-thick sequence of cherty iron-rich sediments, and is continuous for 250 km from Labrador City to Schefferville; it also continues into Québec in both directions, and is one of the most extensive iron formations known on Earth. North of the Grenville Province, the stratigraphic sequence is largely intact, and the position and distribution of the Sokoman Formation are very predictable. Parts of this area experienced low-grade (greenschist facies) metamorphism and open to tight folding, but in the western foreland, the rocks are gently dipping and essentially undisturbed. In the southern part of the Labrador Trough, the rocks are highly metamorphosed and complexly folded, but the essential stratigraphy of the Kaniapiskau Supergroup remains discernable, albeit structurally disrupted. The productive unit in this area is locally known as the ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

Mining is carried out using open pit techniques, which involve the drilling, blasting and hauling of waste rock and ore. Broken ore is loaded by electric shovels and transported by truck to either the Automatic Train Operation (ATO) or the Parallel Ore Delivery System (PODS). The ATO system consists of four underground loading pockets where the as-mined ore is transferred from mine haul trucks to unmanned automatic trains. The automatic trains carry broken ore from the loading pockets to a crusher located adjacent to IOC’s processing facilities, a distance of between 8 and 12 kilometres from the loading pockets. The PODS consists of a gyratory crusher located adjacent to the Luce Pit and an overland conveyor. The conveyor carries crushed ore a distance of 6 kilometres to the concentrator. Given current downstream constraints, the mine and the automatic train and conveyor have a nominal capacity to deliver up to 55 million tonnes per annum of ore to the concentrator. This number would be slightly higher without existing capacity constraints at the concentrator.


Crushing and Grinding
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Processing

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Summary:

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Production:

CommodityProductUnits2023202220212020201920182017
Iron Ore Concentrate & Pellets Mt  ......  Subscription required ^  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required1519
Iron Ore Concentrate kt  ......  Subscription required  ......  Subscription required  ......  Subscription required6,7008,500
Iron Ore Pellets Mt  ......  Subscription required  ......  Subscription required  ......  Subscription required8.510
^ Guidance / Forecast.
Subscription required - Subscription is required.

Operational Metrics:

Metrics202220212020201920182017
Annual mining capacity  ......  Subscription required
Annual production capacity  ......  Subscription required  ......  Subscription required
Annual production capacity  ......  Subscription required  ......  Subscription required  ......  Subscription required12.5 Mt of iron ore pellets12.5 Mt of iron ore pellets12.5 Mt of iron ore pellets
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Reserves at December 31, 2022:
Iron Ore Company of Canada Ore Reserves are reported as marketable product (57% pellets and 43% concentrate for sale) at a natural moisture content of 2%.

CategoryTonnage CommodityGradeRecoverable Metal
Proven Mt Iron Ore 65 % 284 Mt
Probable Mt Iron Ore 65 % 169 Mt
Proven & Probable Mt Iron Ore 65 % 453 Mt
Measured 151 Mt Iron Ore 40.8 %
Indicated 704 Mt Iron Ore 38.5 %
Measured & Indicated 855 Mt Iron Ore 38.9 %
Inferred 811 Mt Iron Ore 38.3 %
Total Resource 1,666 Mt Iron Ore 38.7 %

Commodity Production Costs:

CommodityUnits202220212020201920182017
Cash costs (sold) Iron Ore USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 52.7 / t   44.1 / t  
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Financials:

Units2023202220212020201920182017
Capital expenditures (planned) M CAD  ......  Subscription required  ......  Subscription required
Capital expenditures M  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 189  USD 202  USD
Revenue M  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 1,583  USD 1,867  USD
After-tax Income M  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 166  USD 235  USD
EBITDA M  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 586  USD 770  USD
Operating Cash Flow M  ......  Subscription required  ......  Subscription required  ......  Subscription required 455.4  USD 716  USD
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Pipelines
TypeMaterialDiameterLengthDescription


Heavy Mobile Equipment:

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Mar 15, 2023
....................... Subscription required ....................... Subscription required Subscription required Mar 15, 2023
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....................... Subscription required ....................... Subscription required Subscription required Mar 15, 2023
....................... Subscription required ....................... Subscription required Subscription required Mar 15, 2023
....................... Subscription required ....................... Subscription required Subscription required Mar 15, 2023
....................... Subscription required ....................... Subscription required Subscription required Mar 15, 2023
....................... Subscription required ....................... Subscription required Subscription required Mar 15, 2023
....................... Subscription required ....................... Subscription required Subscription required Mar 15, 2023
....................... Subscription required ....................... Subscription required Subscription required May 9, 2022
Subscription required - Subscription is required.

Staff:

EmployeesYear
Subscription required 2022
Subscription required 2021
Subscription required 2020
Subscription required 2019
Subscription required 2018
Subscription required 2017
Subscription required 2016
Subscription required 2015

Corporate Filings & Presentations:

DocumentYear
Annual Information Form 2022
Annual Report 2022
Annual Report 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2019
Annual Report 2018
Annual Report 2017
Annual Report 2016
Annual Report 2015
Other 2015
Other 2012
Subscription required - Subscription is required.

News:

NewsDate
Labrador Iron Ore Royalty Corporation - 2022 Results Of Operations March 7, 2023

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