TORONTO, July 23,
2024 /CNW/ - On July 12,
2024 more than 7,000 residents of Labrador City (including more than 2,000 Iron
Ore Company of Canada ("IOC")
employees) were ordered by provincial authorities to evacuate the
town due to the threat of nearby forest fires. That evacuation
order was officially lifted on Monday July
22, 2024, and IOC has begun the process of restarting iron
ore operations in Labrador City.
In addition, IOC has announced that it has donated CAN$125,000 to
the Canadian Red Cross to support relief efforts in connection with
the recent wildfires in the Labrador West region and has committed
an additional CAN$75,000 to support community organizations
assisting with the recovery phase.
About Labrador Iron Ore Royalty Corporation
Labrador Iron Ore Royalty 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
on all iron ore products produced, sold and shipped by IOC and a
10 cent per tonne commission on all
iron ore products produced and sold by IOC.
SOURCE Labrador Iron Ore Royalty Corporation