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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 firms, the largest being the M.A. Hanna Company. It is now owned by a consortium that includes the Mitsubishi and Rio Tinto corporations.
The first truly industrial mining operation in what is now Canada was an iron mine at Forges du Saint-Maurice near Trois-Rivières in Quebec, which remained a going concern from 1738 to 1883. [1] Copper mining in Bruce Mines, Ontario—the first industrial-scale mine of a substance other than iron—followed in 1848. [2]
The Mary River Mine is an open-pit iron ore mine in the Mary River area of Baffin Island, Canada. [3]: 2 It is operated by the Baffinland Iron Mines Corporation (BIMC).As of 2021, the operation consists of an open-pit mine, two work camps for hundreds of workers, a tote road—from the Mary River site to Milne Inlet—and port infrastructure at Milne Inlet. [1]
Hematite and magnetite are the most common types of Iron ore. Roughly 98% of iron ore on the global market is used in iron and steel production. [8] The other 2% of iron ore is used to make powdered iron for certain types of steel, auto parts, and catalysts; radioactive iron for medicine; and iron blue in paints, inks, cosmetics, and plastics. [5]
The Lake Jeannine iron mine closed in 1976. [5] The Fire Lake mine was closed in 1984. [1] The mill at Lake Jeannine continued to treat iron ore from Fire Lake until 1985. [6] The hamlet of Fire Lake and town of Gagnon were abandoned in 1985. [1] ArcelorMittal resumed mining at Fire Lake in 2006, with operations at first shutting down each winter.
Lac Otelnuk mine is Quebec's largest iron mine project, with NI 43–101 compliant estimated reserves of 23.74 billion tonnes of ore grading 29.65% iron. In 2005, Bedford Resource Partners staked 129 claims over the deposit and optioned it to Adriana Resources. In 2012, 60% ownership of the iron deposit was sold to Wuhnan Iron and Steel Co ...
Of the iron ore exported, 38.5% of the volume was iron ore pellets with a value of $2.3 billion, and 61.5% was iron ore concentrates with a value of $2.3 billion. [40] 46% of Canada's iron ore comes from the Iron Ore Company of Canada mine, in Labrador City, Newfoundland, with secondary sources including the Mary River Mine in Nunavut. [40] [41]
This is a list of countries by iron ore production based on U.S. Geological Survey ... Canada: 54,000: 2019 9: United States: ... List of iron mines; Iron-ore exports ...
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