LABRADOR - The IRON ORE COMPANY OF CANADA (IOC), headquartered in Montreal, has earmarked $60 million to expand production capacity to 18.4 million t/y by mid-2008. The feasibility of a further increase to 21.0 million t/y will also be studied.
Throughput will be increased by eliminating operating bottlenecks and improving winter performance. IOC plans to buy new mine loading and haulage equipment, make upgrades to the automatic train system, and add additional spirals for the concentrator.
IOC is owned by RIO TINTO (58.72%), MITSUBISHI CORP. (26.18%) and LIORIF (15.10%).
The IOC sustainable development report is available at www.IronOre.ca.
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