Iron Ore Company of Canada
| Iron Ore Company of Canada | |
|---|---|
| legal form | subsidiary |
| founding | 1949 |
| Seat |
Montreal , Quebec Canada
|
| management | Kelly Sanders (President and CEO ) |
| Number of employees | 2,500 (2013) |
| sales | 1,794,000,000 US dollars (2014) |
| Branch | Mining |
| Website | www.ironore.ca |
The Iron Ore Company of Canada (IOC) (French: Compagnie Minière IOC ) is a Canadian mining company headquartered in Montreal , Québec . The company was founded in 1949 by the MA Hanna Company . Today the company is owned by a consortium made up of the Labrador Iron Ore Royalty Company / LIORC (15%), Mitsubishi (26%) and Rio Tinto (59%). The production capacity is approximately 22 million tons of iron ore per year.
The company operates mining areas in Labrador City , Newfoundland and Labrador . IOC also owns the 417 km Quebec North Shore and Labrador Railway to transport the raw materials to the port of Sept-Îles , Québec. From there they are shipped for the global market.