Champion Iron sets sights on low cost iron ore production

Company News

by Jessica Ellerm


Champion Iron Ore (ASX:CIA) has announced it is positioning itself to be one of the lowest capital cost iron ore mines in the world.
 
The company is optimistic its recently acquired Bloom Lake Mine in Quebec, Canada, will be able to deliver 7 million tons of iron ore per year after a number of operational improvements.
 
Historically, operations at the mine have delivered annual volumes of 6 million tons of iron fines at 66% elemental Iron.
 
The Bloom Lake Mine is a joint venture with the Quebec government, with the company also in discussions to advance projects to improve rail and port access.
 
Champion Iron reported a net loss of $2.4 million at 30 September 2015. 

Jessica Ellerm

Finance News Network
Jessica joined FNN in April 2016 and presents the Australian Share Market Outlook, and reports on the morning's leading business stories. Alongside FNN Jessica is a fintech industry commentator, writing for her own blog and a number of international online publications.