IOC, majority owned by Rio Tinto, operations are integrated across a mine and processing plant in Labrador City, Newfoundland and a port and stockpile in Sept-Iles, Quebec.

The hottest major commodity of 2020 is getting even hotter, with iron ore boosted by news that one of the world's biggest producers will not meet its output targets this year.

Company expects to produce 300-305 million tonnes this year, missing a previously lowered 2020 target of at least 310 million tonnes.

First production from the operation is targeted for mid-2021.

The ongoing tensions haven’t had any discernable impact on the iron ore trade.

Some major mining executives have ruled themselves out, and there is not a long list of acceptable candidates.