August 16, 2019
Champion Iron completes refinancing and acquisition of 100% of Bloom Lake.
About Champion
Leader in High-Grade
Mining & Development
Discover the unique vision of a company that instills its mark worldwide
in iron ore exploration and development.
Listed on the ASX and TSX under symbol “CIA” and available to trade on the OTCQX under symbol “CIAFF”
Champion, through its subsidiary Quebec Iron Ore Inc., owns and operates the Bloom Lake Mining Complex, located on the south end of the Labrador Trough, approximately 13 km north of Fermont, Québec. Bloom Lake is an open-pit operation with two concentrators that primarily source energy from renewable hydroelectric power. The two concentrators have a combined nameplate capacity of 15 Mtpa and produce a low contaminant high-grade 66.2% Fe iron ore concentrate with a proven ability to produce a 67.5% Fe direct reduction quality concentrate. Bloom Lake’s high-grade and low contaminant iron ore products have attracted a premium to the Platts IODEX 62% Fe iron ore benchmark. The Company ships iron ore concentrate from Bloom Lake by rail, to a ship loading port in Sept-Îles, Québec, and has sold its iron ore concentrate to customers globally, including in China, Japan, the Middle East, Europe, South Korea, India and Canada. In addition to Bloom Lake, Champion owns a portfolio of exploration and development projects in the Labrador Trough, including the Kamistiatusset Project, located a few kilometres south-east of Bloom Lake, and the Consolidated Fire Lake North iron ore project, located approximately 40 km south of Bloom Lake.
Champion Iron represents the future of the Canadian iron mining industry.
Proven management
Skilled workforce
Innovative technologies
Major investments in state-of-the-art EQUIPMENT
An exemplary environmental approach
Organizational chart
A strong history of value creation
and operational ability
June 20, 2019
Champion Iron announces an after-tax IRR of 33.4% in feasibility study for the phase II expansion at Bloom Lake.
June 20, 2019
Reports strong first year results
Achieves record production of 6,994,500 wmt of high-grade 66.4% Fe concentrate and strong operating cash flow of $176.7 million for the first full year.
February 22, 2018
Commissioning of the mine
The first train loaded with 16,500 metric tonnes of high-grade 66% Fe concentrate from QIO’s Bloom Lake Iron Ore Mine (“Bloom Lake”) left Fermont for Sept-Îles.
April 11, 2016
Champion Iron, through its subsidiary Quebec Iron Ore, acquired the Bloom Lake Mine and related rail assets from affiliates of Cliffs Natural Resources Inc.
February 7, 2013
Champion Iron presented the results of a preliminary feasibility study for the Consolidated Fire Lake North (CFLN) project, located in the center of the Fermont Iron Ore District (FIOD). The study estimates the CFLN’s net present value at $3.3 billion, net of 8% cash flow, with a 30.9% internal rate of return and a 3.4-year payback period for initial capital.
The average production of iron ore concentrate will yield 9.3 million tonnes annually (Mtpa), with an impressive 66% Fe iron content over a 20-year mine life.
A resource of
Superior Quality
The high-grade iron ore concentrate is obtained from an iron oxide ore—a high quality, coarse specular hematite—which liberates at a corse grind size, with no sign of deleterious elements.
The company continues to increase its efforts to eliminate risks related to its projects and to maximize economic aspects by working with other stakeholders in the Labrador Trough.
To learn more about Champion Iron and its subsidiaries, contact us.
