Labrador Iron Ore Royalty Corporation (the " Corporation ") (TSX: LIF) announced the results of the election of directors at its annual meeting of holders of common shares held today by way of a virtual meeting.

The following nominee directors listed in the Corporation's management information circular dated April 8, 2022 were elected as directors of the Corporation. The vote was conducted by electronic ballot. The number of common shares voted for the election of each director or withheld was as indicated below:

Final results on all matters voted at the annual meeting will be filed shortly with the Canadian securities regulators.

The Corporation holds a 15.10% equity interest in Iron Ore Company of Canada (" IOC ") directly and through its wholly-owned subsidiary, Hollinger-Hanna Limited, and receives a 7% gross overriding royalty and a 10 cent per tonne commission on all iron ore products produced, sold and shipped by IOC.

SOURCE Labrador Iron Ore Royalty Corporation

View original content: http://www.newswire.ca/en/releases/archive/May2022/12/c7654.html

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Labrador Iron Ore Royalty Corporation ("LIORC") (TSX: LIF) announced today its operation and cash flow results for the first quarter ended March 31, 2022 .

In the first quarter of 2022, LIORC's financial results were negatively impacted by lower sales of concentrate and lower average realized concentrate and pellet prices. Royalty revenue for the first quarter of 2022 amounted to $53.7 million compared to $65.2 million for the first quarter of 2021. Equity earnings from Iron Ore Company of Canada ("IOC") were $40.4 million in the first quarter of 2022 compared to $57.0 million in the first quarter of 2021. Net income per share for the first quarter of 2022 was $0.99 per share, which was a 27% decrease over the same period in 2021. The adjusted cash flow per share for the first quarter of 2022 was $0.47 per share, which was 46% lower than in the same period in 2021, as a result of lower royalty revenues and the decision by IOC to not pay a dividend in the first quarter of 2022. In the first quarter of 2021, LIORC received a dividend in the amount of $19.0 million from IOC.

Decreased demand for iron ore by steel producers, partially offset by lower supply, led to lower iron ore prices in the first quarter of 2022. According to the World Steel Association, global crude steel production in the first quarter of 2022 decreased 6% over the first quarter of 2021 and crude steel production in China , which accounts for over 70% of all seaborne iron ore demand, was 9% lower in the first quarter of 2022 compared to the same quarter of 2021. Steel production in China was lower partly as a result of the continuation of the restrictions imposed on Chinese steel production that were initiated in the second half of 2021.  At the same time, some of the world's largest suppliers of seaborne iron ore reported lower production in the first quarter of 2022, compared to the first quarter of 2021. Iron ore production by Rio Tinto was lower by 6%, as ongoing mine depletion was not offset by mine replacement projects and COVID-19 constraints impacted labour supply and iron ore production by Vale was lower by 6%, due to heavy rains in January and March, along with licensing delays at its Northern System.

IOC sells concentrate for sale ("CFS") based on the Platts index for 65% Fe, CFR China ("65% Fe index").  In the first quarter of 2022, the 65% Fe index averaged US$170 per tonne, an 11% decrease over the average of US$191 per tonne in the first quarter of 2021. The monthly Atlantic Blast Furnace 65% Fe pellet premium index as quoted by Platts (the "pellet premium") averaged US$67 per tonne in the first quarter of 2022, up substantially from an average of US$43 in the same quarter of 2021, on strong demand for pellets from both blast furnace and direct reduction iron markets, and supply constraints from Brazil and the Commonwealth of Independent States. Overall, the average price realized by IOC for CFS and pellets, FOB Sept-Îles, net of selling costs was approximately C$219 per tonne in the first quarter of 2022, compared to approximately C$226 per tonne in the first quarter of 2021.

Iron Ore Company of Canada Operations

IOC concentrate production in the first quarter of 2022 of 4.4 million tonnes was approximately the same as the same period of 2021, and 8% lower than the fourth quarter of 2021. Concentrate production in the first quarter of 2022 was negatively affected by intermittent periods of a lack of feed at the concentrator due to the mine and ore delivery system issues. IOC saleable production (CFS plus pellets) of 4.1 million tonnes in the first quarter of 2022 was 3% higher than the same period in 2021. Pellet production of 2.5 million tonnes was 2% lower than the corresponding quarter in 2021, mainly due to issues with the flux hopper and conveyor belts in the pellet feed system, a lack of feed at certain times from the concentrator and the idling of machines to prioritize concentrate for sale in order to meet sales commitments. CFS production of 1.6 million tonnes was 10% higher than the same quarter last year due to the lower production of pellets.

Sales as Reported for the LIORC Royalty

Total iron ore sales tonnage by IOC (CFS plus pellets) of 3.6 million tonnes in the first quarter of 2022 was 13% lower than the total sales tonnage for the same period in 2021, and 19% lower than the fourth quarter of 2021, predominantly due to equipment failures (ship loader cable, conveyor drive pulley and belt tear), inventory availability, and manpower constraints due to COVID-19. Pellet sales tonnages were 1% lower than the same quarter last year and 16% lower than the fourth quarter of 2021.  CFS sales tonnages were 31% lower than the same quarter last year and 25% lower than the fourth quarter of 2021.

Rio Tinto's 2022 guidance for IOC's saleable production (CFS plus pellets) remains at 17.0 million to 18.7 million tonnes. This compares to 16.6 million tonnes of saleable production in 2021. As reported in the 2021 Annual Report, IOC has ambitious capital expenditure plans to continue renewing the asset infrastructure and to improve the production results at IOC.  These initiatives will be of benefit to LIORC as both an equity holder and a royalty holder.

There are a number of issues affecting the outlook for the seaborne iron ore market. The current COVID-19 crisis in China is negatively impacting China's economic outlook as a result of the widespread lock-downs being imposed as part of China's zero COVID-19 strategy. There also remains significant uncertainty regarding the economic health of the property markets in China.  In addition, China recently announced that as part of its efforts to improve the decarbonization of the steel industry, it will ensure that crude steel production in 2022 does not exceed 2021 levels. Finally, the war in Ukraine has resulted in the disruption of some traditional sources of iron ore supply.

It is unclear as to the longer-term effects that these events will have on the market.  However, despite these uncertainties, seaborne iron ore prices remain attractive from a historical perspective.  Since the end of the first quarter iron ore prices have strengthened. In April 2022 , the average price of the 65% Fe index was US$175 per tonne, or 2% higher than the average of the 65% Fe index for the first quarter of 2022. The pellet premium for April was US$82 per tonne compared to the average of US$67 per tonne in the first quarter of 2022.  To put these prices in a longer-term historical context, the average of the 65% Fe index and the pellet premium over the five years ending December 31, 2021 were $118 and $50 , respectively.  As a result, we remain positive about the outlook for IOC and LIORC remains well positioned to continue to benefit from the current iron ore pricing environment through royalty revenues and expected future dividends from IOC.

The LIORC cash balance at March 31, 2022 stood at $13.5 million before LIORC dividends payable on April 26, 2022 of $0.50 per share or $32.0 million . The net royalty from IOC was received by LIORC on the same date, maintaining the Corporation's strong cash balance.

Respectfully submitted on behalf of the Directors of the Corporation,

John F. Tuer President and Chief Executive Officer May 5, 2022

The following discussion and analysis should be read in conjunction with the Management's Discussion and Analysis section of Labrador Iron Ore Royalty Corporation's ("LIORC" or the "Corporation") 2021 Annual Report, and the financial statements and notes contained therein and the March 31, 2022 interim condensed consolidated financial statements.

The Corporation's revenues are entirely dependent on the operations of IOC as its principal assets relate to the operations of IOC and its principal source of revenue is the 7% royalty it receives on all sales of iron ore products by IOC. In addition to the volume of iron ore sold, the Corporation's royalty revenue is affected by the price of iron ore and the Canadian – U.S. dollar exchange rate. The first quarter sales of IOC are traditionally adversely affected by the general winter operating conditions and are usually 15% – 20% of the annual volume, with the balance spread fairly evenly throughout the other three quarters. Because of the size of individual shipments, some quarters may be affected by the timing of the loading of ships that can be delayed from one quarter to the next.

($ in millions except per share information)

Cash flow from operations per share (1)

Adjusted cash flow per share (1)

(1) This is a non-IFRS financial measure and does not have a standard meaning under IFRS.

Please refer to Standardized Cash Flow and Adjusted Cash Flow section in the MD&A.

The lower revenue, net income and equity earnings achieved in the first quarter of 2022 as compared to 2021 were mainly due to lower concentrate sales and lower iron ore prices, partly offset by higher pellet premiums. The first quarter of 2022 sales tonnages (CFS plus pellets) were lower by 13% predominantly due to equipment failures (ship loader cable, conveyor drive pulley and belt tear), inventory availability, and manpower constraints due to COVID-19. Pellet sales were 1% lower and CFS sales were 31% lower than the same quarter in 2021.

The lower sales tonnages and a decrease in the average realized sales price of pellets and CFS, resulted in royalty income of $53.7 million for the quarter as compared to $65.2 million for the same period in 2021. First quarter 2022 cash flow from operations was $4.1 million or $0.06 per share compared to $42.7 million or $0.67 per share for the same period in 2021. There was no IOC dividend received by LIORC in the first quarter of 2022 compared to $19.0 million or $0.30 per share IOC dividend received for the same period in 2021. Equity earnings from IOC amounted to $40.4 million or $0.63 per share in the first quarter of 2022 compared to $57.0 million or $0.89 per share for the same period in 2021.

Average index prices per tonne (US$)

(1) For calculating the royalty to LIORC.

(2) Excludes third party ore sales.

(3) Totals may not add up due to rounding.

(4) The Platts index for 65% Fe, CFR China.

(5) The Platts index for 62% Fe, CFR China.

(6) The Platts Atlantic Blast Furnace 65% Fe pellet premium index.

IOC sells CFS based on the 65% Fe index.  In the first quarter of 2022, the 65% Fe index averaged US$170 per tonne, an 11% decrease over the average of US$191 per tonne in the first quarter of 2021. Iron ore prices decreased party as a result of lower steel production in China as restrictions imposed on Chinese steel production that were initiated in the second half of 2021 continued during the quarter. At the same time, the expected supply of seaborne iron ore by some of the large producers was lower than expected.  The monthly pellet premium averaged US$67 per tonne in the first quarter of 2022, up substantially from an average of US$43 in the same quarter of 2021, which had been negatively impacted by a reduction in demand from European steel producers due to COVID-19.

The average price realized by IOC for CFS and pellets, FOB Sept-ÃŽles, net of selling costs was approximately C$219 per tonne in the first quarter of 2022 compared to C$226 per tonne in the first quarter of 2021. The decrease in the average realized price FOB Sept-ÃŽles in 2022 was a result of lower CFS prices, partially offset by higher pellet premiums.

Standardized Cash Flow and Adjusted Cash Flow

For the Corporation, standardized cash flow is the same as cash flow from operating activities as recorded in the Corporation's cash flow statements as the Corporation does not incur capital expenditures or have any restrictions on dividends.  Standardized cash flow per share was $0.06 for the quarter (2021 - $0.67 ).

The Corporation also reports "Adjusted cash flow" which is defined as cash flow from operating activities after adjustments for changes in amounts receivable, accounts payable and income taxes recoverable and payable.  It is not a recognized measure under International Financial Reporting Standards ("IFRS"). The Directors believe that adjusted cash flow is a useful analytical measure as it better reflects cash available for dividends to shareholders.

The following reconciles standardized cash flow from operating activities to adjusted cash flow.

(in thousands except for per share information)

Standardized cash flow from operating activities

Changes in amounts receivable, accounts payable and income taxes payable

Adjusted cash flow per share

Liquidity and Capital Resources The Corporation had $13.5 million in cash as at March 31, 2022 ( December 31, 2021 - $82.9 million ) with total current assets of $70.3 million ( December 31, 2021 - $132.6 million ). The Corporation had working capital of $27.4 million as at March 31, 2021 ( December 31, 2021 - $29.6 million ). The Corporation's operating cash flow was $4.1 million and the dividend paid during the quarter was $73.6 million , resulting in cash balances decreasing by $69.5 million during the first quarter of 2022.

Cash balances consist of deposits in Canadian dollars with Canadian chartered banks. Amounts receivable primarily consist of royalty payments from IOC. Royalty payments are received in U.S. dollars and converted to Canadian dollars on receipt, usually 25 days after the quarter end. The Corporation does not normally attempt to hedge this short-term foreign currency exposure.

Operating cash flow of the Corporation is sourced entirely from IOC through the Corporation's 7% royalty, 10 cents commission per tonne and dividends from its 15.10% equity interest in IOC. The Corporation normally pays cash dividends from its net income to the maximum extent possible, subject to the maintenance of appropriate levels of working capital.

The Corporation has a $30 million revolving credit facility with a term ending September 18, 2024 with provision for annual one-year extensions.  No amount is currently drawn under this facility (2021 – nil) leaving $30.0 million available to provide for any capital required by IOC or requirements of the Corporation.

John F. Tuer President and Chief Executive Officer Toronto, Ontario May 5, 2022

Forward-Looking Statements This report may contain "forward-looking" statements that involve risks, uncertainties and other factors that may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Words such as "may", "will", "expect", "believe", "plan", "intend", "should", "would", "anticipate" and other similar terminology are intended to identify forward-looking statements. These statements reflect current assumptions and expectations regarding future events and operating performance as of the date of this report. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly, including iron ore price and volume volatility; the performance of IOC; market conditions in the steel industry; fluctuations in the value of the Canadian and U.S. Dollar; mining risks that cause a disruption in operations and availability of insurance; disruption in IOC's operations caused by natural disasters, severe weather conditions and public health crises, including the COVID-19 outbreak; failure of information systems or damage from cyber security attacks; adverse changes in domestic and global economic and political conditions; changes in government regulation and taxation; national, provincial and international laws, regulations regarding climate change that further limit the emissions of greenhouse gases or increase the costs of operations for IOC or its customers; changes affecting IOC's customers; competition from other iron ore producers; renewal of mining licences and leases; relationships with indigenous groups; litigation; and uncertainty in the estimates of reserves and resources. A discussion of these factors is contained in LIORC's annual information form dated March 11, 2022 under the heading, "Risk Factors". Although the forward-looking statements contained in this report are based upon what management of LIORC believes are reasonable assumptions, LIORC cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this report and LIORC assumes no obligation, except as required by law, to update any forward-looking statements to reflect new events or circumstances. This report should be viewed in conjunction with LIORC's other publicly available filings, copies of which can be obtained electronically on SEDAR at www.sedar.com .

LABRADOR IRON ORE ROYALTY CORPORATION

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

(in thousands of Canadian dollars)

Iron Ore Company of Canada ("IOC")

Total Liabilities and Shareholders' Equity

LABRADOR IRON ORE ROYALTY CORPORATION

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

For the Three Months Ended

(in thousands of Canadian dollars except for per share information)

Amortization of royalty and commission interests

Income before equity earnings and income taxes

Net income for the period

Comprehensive income for the period

LABRADOR IRON ORE ROYALTY CORPORATION

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

For the Three Months Ended

(in thousands of Canadian dollars)

Net inflow (outflow) of cash related

Net income for the period

Amortization of royalty and commission interests

Common share dividend from IOC

Cash flow from operating activities

Cash flow used in financing activities

Decrease in cash, during the period

LABRADOR IRON ORE ROYALTY CORPORATION

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

(in thousands of Canadian dollars)

Net income for the period

Net income for the period

The complete consolidated financial statements for the first quarter ended March 31, 2022 , including the notes thereto, are posted on sedar.com and labradorironore.com .

SOURCE Labrador Iron Ore Royalty Corporation

View original content: http://www.newswire.ca/en/releases/archive/May2022/05/c5465.html

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Knowing about the different types of iron ore is useful for investors interested in the space.

Iron, a key material in steel and other applications, is most often found in hematite and magnetite ores, though goethite, limonite and siderite ores are also common sources.

Below the Investing News Network has put together an overview of some basic information about hematite and magnetite ores, including what they are and where they’re found. Keep reading to learn more.

Hematite ore, also called direct-shipping ore, has naturally high iron content suitable for steel making. Because of its high iron content, hematite ore must undergo only a simple crushing, screening and blending process before being shipped off for steel production. For that reason, hematite ore is important for many mining companies.

Hematite ore is found throughout the world. According to Geology.com, "most ore is now produced in China, Australia, Brazil, India, Russia, Ukraine, South Africa, Canada, Venezuela, and the United States."

Hematite ore has been the primary type of iron ore mined in Australia since the early 1960s. Nearly all of Australia's iron ore exports are high-grade hematite ore, and the majority of its reserves are located in the Hamersley mountain range of Western Australia because the range sits on a banded iron formation.

Brazil is another of the world’s main sources of this type of iron ore. Its Carajas mine is the largest iron ore mine in existence, and is operated by Brazilian miner Vale (NYSE:VALE). Vale consistently ranks among the world's top five largest mining companies and is the world's biggest producer of iron ore pellets. The company’s headquarters are in Rio de Janeiro, and its primary iron ore assets are in the Iron Quadrangle region of Minas Gerais.

A great deal of mining for hematite ore is done in China. Known reserves include the Tung-Yeh-Chen hematite ore deposit and the Dongye hematite ore deposit.

The mineral magnetite actually has higher iron content than the mineral hematite. However, while hematite ore generally contains large concentrations of hematite, magnetite ore generally holds low concentrations of magnetite. As a result, this type of iron ore ore must be concentrated before it can be used to produce steel. Magnetite ore’s magnetic properties are helpful during this process.

Magnetite ore may require more treatment, but end products made from magnetite ore are typically of higher quality than those made from hematite ore. That’s because magnetite ore has fewer impurities than hematite ore; in this way, the elevated cost of processing magnetite ore can be balanced out.

Magnetite ore is currently mined in Minnesota and Michigan in the US, as well as in taconite deposits in Eastern Canada. A major mining site in Michigan is the Marquette Range. Magnetite ore and hematite ore are among the four types of iron ore deposits found in this area.

In Minnesota, this type of iron ore is mined mainly in the Mesabi Range, one of the four ranges that make up the Iron Range of Minnesota. In Canada, Labrador is home to the majority of magnetite ore mining. In particular, mining companies focus on exploration and development in the iron-rich Labrador Trough.

Cleveland-Cliffs (NYSE:CLF) is a major player in the magnetite ore industry, with five iron ore operations that are focused on magnetite ore. For instance, its Hibbing Taconite joint venture operates in Minnesota’s Mesabi Range and has an annual capacity of 8 million metric tonnes of magnetite ore. The company is also the largest iron ore pellet producer in North America.

Now that you know a bit more about the different types of iron ore, would you like to know what the world’s top iron ore producers are? Click here to read about the largest iron-producing countries.

This is an updated version of an article first published by the Investing News Network in 2013.

Don’t forget to follow us @INN_Resource for real-time news updates.

Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

It is more common than air, but invaluable to our society. We use it to build, craft and make steel and other alloys, and it shows up in everything from buildings to utensils.

Iron is one of the fundamental elements used by humans. It makes sense, then, to consider iron as an investment opportunity. The ubiquity of the metal, not just in our environment, but in our daily life, shows off its value. That value can be translated into an investor's portfolio.

When we specifically talk about iron in Australia, we are talking about the largest export in the country — it just narrowly edges out coal. Both the price and the production of iron has increased over the past five years, with most of Australia's iron being produced in Western Australia.

More than 37 percent, amounting to around 900 million tonnes, of the world's iron exports come from Australia. In this regard, Australia ranks number one in the world. Its nearest rival is Brazil, with 400 million tonnes of iron exports, accounting for 16.7 percent — less than half of Australia's output.

Although the iron price is down in 2022, that's only compared to the massive highs it saw last year. Ignoring 2021's iron price spike, the iron price has not been at the levels seen currently since 2013.

The outlook is that this price trend will not continue indefinitely, and might take a few hits over the next several years. The Australian government expects price averages to drop from AU$142 per tonne in 2021 to AU$66 by 2023, and the profitability of that decline is questionable. Ultimately, the expectation is that the industry will remain solid, but will not continue to experience the exciting climb that it has, up until recently, enjoyed.

So why should investors consider iron? The short answer is that iron is here to stay. Market fluctuations are one thing — these ups and downs happen — but because of the nature of iron and how much people use and need the metal, at the end of the day, this industry is essential to our way of life.

When looking at major players in Australian iron, three names repeatedly come up: BHP (ASX:BHP,LSE:BHP,NYSE:BHP), Rio Tinto (ASX:RIO,LSE:RIO,NYSE:RIO) and Fortescue Metals Group (ASX:FMG).

Data for the following list was gathered from TradingView's stock screener on April 7, 2022, and the companies are listed in order of largest market cap to smallest.

Market cap: AU$260.25 billion; current share price: AU$51.94

Mining giant BHP's iron ore business includes integrated iron ore mines, rail and port operations in the Pilbara region of Western Australia. In addition to iron ore, the diversified Anglo-Australian company produces copper, nickel, metallurgical coal, petroleum and potash.

Market cap: AU$176.4 billion; current share price: AU$118.98

Diversified miner Rio Tinto produces iron ore, aluminium, copper, borates, lithium, diamonds, titanium dioxide and salt. In Western Australia, the company produces five iron ore products; one of these is the Pilbara Blend, which the company calls "the world’s most recognised brand of iron ore."

Market cap: AU$66.69 billion; current share price: AU$21.83

Fortescue Metals Group is based in Western Australia and has multiple operations in the Pilbara region. The company is one of the world's biggest iron ore producers, and sells its material globally, but mainly to China.

Don't forget to follow us @INN_Australia for real-time news updates!

Securities Disclosure: I, Ryan Sero, hold no direct investment interest in any company mentioned in this article.

M3 Metals Corp is a Canadian listed company. The company's business is to acquire, explore, and develop interests in mineral properties located in North America. Its only operating segment, being the acquisition and exploration of assets. The company's projects include Mohave Mine Gold; Aspen Gold; and Block 103 Iron Ore projects.

Rockex Mining Corp is a Canadian based mineral exploration company. It is principally engaged in the exploration and evaluation of mineral properties. The company is involved in iron ore mining that focuses on the development of its Lake St. Joseph iron ore deposit.

Oceanic Iron Ore Corp is an exploration-stage company. It is engaged in the acquisition and exploration of iron ore properties in Quebec, Canada. The company focuses on the operations of the Ungava Bay iron property in Nunavik, Quebec which consists of three project areas: Hopes Advance, Morgan Lake and Roberts Lake.

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