Champion Iron subsidiary enters MOU on Canadian infrastructure

Company News

by David Chau

Quebec Iron Ore, which is a subsidiary of Champion Iron Ltd (ASX:CIA), has entered a partnership to manage and develop industrial facilities at Pointe-Noire in Sept-Iles, Quebec.

The Québec government has confirmed that Quebec Iron Ore has entered a memorandum of understanding with Société du Plan Nord and Tata Steel Minerals Canada.

The government says this MOU is the first step towards developing and enhancing the strategic infrastructure at Point-Noire, an unincorporated community within the Quebec province.

The CEO of Tata Steel, Rajesh Sharma, says this infrastructure is an “exciting opportunity to mining companies for exporting iron ore on cost competitive terms”.

This morning, Champion Iron shares are trading 2.63% higher at $1.17.

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.