Labrador Iron Ore Royalty Corporation reported IOC production results for the fourth quarter and full year ended December 31, 2021. Total concentrate production in fourth quarter of 2021 was 4.77 million tonnes against 4.88 million tonnes a year ago. The IOC saleable production (CFS plus pellets) of 4.25 million tonnes against 4.67 million tonnes a year ago.

Total concentrate production in 2021 was 17.89 million tonnes against 18.66 million tonnes a year ago. This was 4% lower than 2020 due mainly to labour and equipment availability issues during the year which impacted feed availability. The IOC saleable production (CFS plus pellets) of 16.57 million tonnes in 2021 against 17.72 million tonnes a year ago. This was 6% lower than 2020, and below the lower end of Rio Tinto's original guidance of 17.9 to 20.4 million tonnes.