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.

David Chau

Finance News Network
David joined FNN in April 2016. In addition to presenting the Market Outlook and latest business news stories, David interviews senior economists and CEOs of ASX-listed companies. Prior to working for FNN, David was a litigation lawyer.