Labrador Iron Ore Royalty Corporation provided production guidance for the year 2022. For the year, the company expects Rio Tinto's 2022 guidance for IOC's saleable production tonnage (CFS plus pellets) is 17.0 million to 18.7 million tonnes. This compares to 16.6 million tonnes of saleable production in 2021.

Given current pellet premiums, it is expected that IOC will continue to focus on maximizing pellet production in 2022.