Carol Lake iron ore mine Report

Asset Report 03 July 2023

Get this report*

$2,250

You can pay by card or invoice

Share link

First name
Last name
Job Title
Company
Email
Telephone

Country

Message

Consent

Please keep me informed about Wood Mackenzie products, services and events.

Submit Category

For details on how your data is used and stored, see our Privacy Notice.

- FAQs about online orders
- Find out more about subscriptions

*Please note that this report only includes an Excel data file if this is indicated in "What's included" below

Report summary

Carol Lake is a surface mine operated by Iron Ore Company of Canada (IOC) located approximately 900 kilometres northeast of Montreal in Newfoundland and Labrador, Canada. IOC is majority owned by Rio Tinto with Mitsubishi and Labrador Iron Ore Royalty Corp (LIORC) owning minority stakes. Carol Lake production of pellets and concentrate increase by over 2% in 2022. Successful deployment of the Rio Tinto Safe Production System (SPS) at the concentrator was completed in the year, with record performance metrics achieved in the year. Going forward, we expect the mine’s output to gradually expand to a ultimate rate by 2026. We anticipate 54% of that output will be comprised of concentrate, with the remaining 46% being pellet. IOC completed the development of the Wabush 3 deposit in November 2018. Its ramp-up has been improving productivity levels and enhancing operational flexibility.