Iron Ore Company of Canada
The factual accuracy of parts of this article (those related to CEO and financial data) may be compromised due to out-of-date information. (December 2015)
|Founded||(1949) Wilmington, Delaware, United States|
|Headquarters||Montreal, Quebec, Canada|
|Clayton Walker , President|
|Revenue||$2.471 Billion US (2011)|
Number of employees
Iron Ore Company of Canada (often abbreviated to IOC) (French: Compagnie Minière IOC) is a Canadian-based producer of iron ore. The company was founded in 1949 from a partnership of Canadian and American M.A. Hanna Company. It is now owned by a new consortium, including the Mitsubishi and Rio Tinto corporations. Rio Tinto is the majority shareholder in the venture, with 58.7% of the joint stock as of October 2013. Mitsubishi controlled 26.2% of the investment as of March 2013.
Based in Montreal, Quebec, IOC currently has mining and concentrator operations in Labrador City, and operates the Quebec North Shore and Labrador Railway to ship ore concentrate from the mines, such as Wabush, to the port of Sept-Îles, Quebec.
Notes and references
- Hollinger, M.A. Hanna, Labrador Mining, National Republic, Armco, Youngston and Wheeling-Pittsburg
- Mitsubishi Corp., Rio Tinto Limited, LIORIF and IOC Ore Sales Company
- FP: "Rio Tinto to complete Iron Ore Company of Canada expansion by mid-2014" 15 Oct 2013
- G+M: "Dented by aluminum, Rio Tinto aims to unload Iron Ore Co" 1 Mar 2013
- Geren, Richard (1990). Cain's legacy : the building of Iron Ore Company of Canada. Sept-Îles, Quebec, Iron Ore Company of Canada. (Worldcat link: )
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