Labrador Iron Ore Royalty hires advisors

April 5 Fri Apr 5, 2013 4:58pm EDT

April 5 (Reuters) - Labrador Iron Ore Royalty Corp said on Friday it has hired advisors to consider a possible sale or other strategic options.

It said the process was a response to media reports that Rio Tinto is considering selling its stake in Iron Ore Company of Canada (IOC), Canada's largest iron ore producer. Labrador Iron Ore owns a 7 percent royalty interest in IOC, and a 15.1 percent equity stake.

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