PITTSBURGH Iron Ore Co.
of Canada (IOC) logged a nearly 12-percent increase in
The miner produced 1.672 million
tonnes of iron ore during the three months ended March 31, up
11.8 percent from 1.495 million tonnes in the year-ago period,
majority owner Rio Tinto Plc said in its earnings results.
Of the quarterly total, 1.366
million tonnes were in concentrate, with the remainder in
pellet form. IOC only shipped concentrate in the first quarter
IOC noted that it expects the second phase of its
$500-million expansionwhich will increase capacity to
23.3 million tonnes per yearto begin production later
this year. The company operates a mine, concentrator and
pelletizing plant in Labrador City, Newfoundland and Labrador,
where it is based; as well as port facilities in