Champion Iron Ships First Concentrate From Expanded Bloom Lake Mine

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champion iron (TSX: CIA; OTC: CIAFF) has completed the first shipments by rail containing 24,304 tonnes of 66.2% high-grade iron concentrate from Phase II of the Bloom Lake mine expansion project in Quebec.

The mining complex is located approximately 13 km north of Fermont and 10 km north of the Mont Wright iron mining complex belonging to ArcelorMittal Mines Canada. The railway connects Bloom Lake to the deep-water port of Sept-Îles, Quebec.

Bloom Lake operations were first commissioned in 2018, beginning with Phase I of the project which had a design capacity of 7.4 million tonnes of iron concentrate at 66.2% per annum over a 21 year lifespan. The Phase II expansion doubled the design capacity to 15 million tonnes per year.

According to a feasibility study published in 2019, the Phase II project required the completion of the concentrator, which was partially built by the previous mine owner, and an optimized mining plan to supply ore to the expanded facilities while maintaining a lifespan of 20 years. . The study estimated pre-production capital expenditures at $633.8 million. As of March 31, a total of $625.2 million had been invested in the project.

Commissioning of Phase II of the project was recently completed ahead of schedule, and the company is currently working to gradually ramp up the capacity of the mine and plant towards commercial production, scheduled for the end of this year.

“The Phase II project should be in operation for decades and will provide the Québec Côte-Nord region with more than 400 additional quality permanent jobs. Completing the project ahead of schedule, while dealing with the challenges imposed by the Covid-19 pandemic, is a testament to the agility and operational excellence of our employees and partners,” commented Champion CEO David Cataford. , in a press release.

For more details on Champion Iron’s Bloom Lake mine operations, visit www.championiron.com.

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