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.