Labrador’s IOC commits to clean mining and green steel production

Posted on August 31, 2023 | By Leila Beaudoin | 0 Comments



Despite its massive economic impact, Newfoundland and Labrador’s third largest private-sector employer has historically kept a low profile—until now.

The Iron Ore Company of Canada (IOC) is making headlines as it promotes its plans to cut carbon. Just like the Labrador region it calls home, and the iconic spruce sprig on its flag, the Iron Ore Company of Canada (IOC) is going green.

“How are we going to leave the planet in a better place than it is today?” asks IOC’s CEO, Michael McCann. He says they are committed to reducing carbon emissions at their mining operation in Labrador West (Labrador City and Wabush).

Their goal is to achieve net zero direct and indirect carbon emissions by 2050, if not sooner. The pelletizing process, which moulds iron ore into a ball-like shape for steel production, is being decarbonized to that end. The raw material, iron ore, is extracted by IOC and transported to Sept-Iles, Quebec via a 418-kilometre railway, where it is distributed worldwide to meet the demands of the steel industry.

IOC has already invested $25 million in these initial efforts to reduce carbon emissions. However, according to McCann, this is just the beginning of what needs to be done to achieve the company’s environmental objectives.

McCann says the operation’s plans to significantly decrease their carbon footprint are driven by two factors: environmental responsibility and the need to meet the projected demand for “green steel”.

“In a nutshell, the steel industry right now uses different grades of iron ore, different qualities. It’s very carbon intensive. They need high grade iron ore products that are at low impurities. We have that at the IOC.”

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