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Labrador Iron Ore Royalty Second-Quarter Net Income Falls

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Labrador Iron Ore Royalty (LIF.TO) reported Q2 net income of C$0.17 per share from C$0.42 a year ago.

Revenue for the quarter ended June 30 was C$34.1 million from C$46.8 million in the previous year.

The company, which holds a 7% royalty interest and a 15.1 equity stake in Rio Tinto's (RIO) Iron Ore Company of Canada (IOC), said Rio confirmed its guidance for IOC production of 15 million to 18 million tonnes this year but it expects "2026 sales will more likely be at or below the low end of the original guidance".

The company's share last traded Wednesday, closing up C$0.26, or 1%, to C$27.58 on the Toronto Stock Exchange.

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