Asset Report
Carol Lake iron ore mine
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The Iron Ore Company of Canada’s (IOC) Carol Lake operation is Rio Tinto’s key asset for producing high-grade iron ore concentrate and pellets, including both blast furnace (BF) and direct reduction (DR) grades. The ownership structure is split between Rio Tinto (58.7%), Mitsubishi (26.2%), and Labrador Iron Ore Royalty Corp (15.1%). Located in Newfoundland and Labrador, Carol Lake remains Rio Tinto’s primary source of premium low-impurity iron ore while the Simandou project ramps up. The integrated complex includes surface mining, processing and pelletising facilities, a 418 km railway, and a private port terminal at Sept-Îles capable of handling capesize vessels. In 2024, IOC 's output reduced by 2% from the prior year due to scheduled maintenance, truck availability issues, and a wildfire-related shutdown. However, pellet production went to the opposite way rising by 12% year on year. For 2025, overall production will be constrained in part by a car dumper upgrade at Sept-Îles.
Table of contents
- Summary
- Key issues
- Emissions
Tables and charts
This report includes the following images and tables:
- Carol Lake Emission Intensity Quartile ranking – total global production - tonnes of ore
- Detail map
- Participation
- Marketable reserves (as at 01/01/2024)
- Production
- Production
- Operational summary
- Infrastructure
- Cash cost
- Cash cost
- Capital cost
- Product quality
- 1 more item(s)...
What's included
This report contains:
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