IRC Limited is engaged in the production and development of industrial commodities products that are used in industry worldwide. The Company operates in four business segments: Mines in Production, which comprises iron ore projects in production phase, as well as includes the Kuranakh project; Mines in Development, comprises iron ore projects in the exploration and development phase and includes the Kuranakh project and the K&S project, and mines in the exploration and evaluation stage, including the Garinskoye project and the Bolshoi Seym project, as well as the Kostenginskoye and Garinskoye Flanks projects; Engineering, which comprises in-house engineering and scientific expertise related to Giproruda, and Other, which includes interest in joint venture arrangements for the design and development of a titanium sponge production plant in the People鈥檚 Republic of China. On June 14, 2010, it acquired Thorholdco Limited. On June 25, 2010, it acquired Thorrouble and Thordollar.