Rio Tinto's joint venture Iron Ore Company of Canada (IOC) has declared force majeure on its contracts following a fire at its Sept-Iles port facilities on 31 March. The fire at reclaimer No.2 was brought under control without injuries.

"The cause of the fire remains unknown at this time and an investigation process is ongoing, and IOC is still assessing the impact on its operation. IOC has declared force majeure on its contracts and is working with customers to minimise disruption," minority owner Labrador Iron Ore Royalty said.

Rio Tinto owns 58.7pc of IOC's shares, while Japanese trader Mitsubishi has a 26.2pc stake and Labrador Iron Ore Royalty owns 15.1pc.