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Rio Tinto’s Iron Ore Company of Canada update

Mining News - Published on Thu, 19 Apr 2018

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IOC pellet production of 2.7 million tonnes (Rio Tinto share 1.6 million tonnes) was seven per cent higher than the first quarter of 2017, with strong pellet demand continuing to be strong and product mix being optimised to meet customer demand. Concentrate production for sale of 1.4 million tonnes (Rio Tinto share 0.8 million tonnes) was 28 per cent lower than the same period in 2017, mainly attributable to increased ore hardness and an unplanned shutdown of the Parallel Ore Delivery System. As a result, total sales in the first quarter of 4.0 million tonnes (Rio Tinto share 2.3 million tonnes), were 11 per cent lower than the corresponding period of 2017.

Collective bargaining negotiations at IOC’s Labrador City operation were suspended on 27 March 2018 without an agreement being reached. The local union workforce voted to strike and operations were suspended from that date. Progress has been made to reach a new labour agreement, and a vote is imminent. The priority remains to reach a mutually beneficial agreement with employees and a safe return to operations.

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Posted By : Rabi Wangkhem on Thu, 19 Apr 2018
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