With a proven track record and a growing global customer base, Champion Iron is well positioned to consider the completion of the Phase II expansion project as detailed in the Feasibility Study released in June 2019, which proposes the doubling of the nameplate capacity at Bloom Lake to 15 Mtpa.Along with this track record, access to infrastructure, a long mine life, quality reserves with low contaminants and aligned communities and partners, Bloom Lake is rapidly becoming one of the major long-term iron mines in the Nord-du-Québec region. Cliffs’ Bloom Lake iron ore is part of history now.The company, which is the U.S.’s biggest iron ore miner, also said it has conclude the sale of part of its struggling coal division for $174 million, in cash, to Coronado Coal II LLC.Since becoming chairman and chief executive officer in August, Lourenco Goncalves has started unloading some of Cliffs’s previous acquisitions.“As we approach the final steps of our exit from Eastern Canada, we have brought to an end the flawed expansion that has cost Cliffs and its shareholders billions of dollars,” Goncalves said He added he believed Cliffs was better positioned than any other iron ore mining company in the world to deliver profits in 2015.
In addition to owning 735 specialized railcars for the transportation of iron ore, the QIO logistics strategy ensures long-term access to some of the world’s largest consumers of iron ore for Bloom Lake’s high-quality product, with transportation agreements already in place with the Quebec North Shore and Labrador Railway Company, Inc. (“QNS&L”) and the Société ferroviaire et portuaire de Pointe-Noire (“SFPPN”).Since acquiring Bloom Lake in April 2016, and successfully delivering a Feasibility Study in March 2017, QIO secured the necessary funding by October 2017, with the participation of its Government of Quebec partners. The transaction was made through the company’s wholly owned subsidiary, Société de voitures de chemin de fer du Lac Bloom. The debt component included a C$20m ($15.06m) loan from Sojitz and a C$6m ($4.5m) loan from Ressources Québec, an equity shareholder of QIO.The C$14m ($10.5m) equity investment includes a proportionate contribution from two shareholders, namely Champion Iron and the Government of Québec. 3. The Phase II expansion project’s measured and indicated mineral resources are estimated at 893.5 million tonnes, with an average iron content of 29.3% Fe. The transaction was made through the company’s wholly owned subsidiary, Société de voitures de chemin de fer du Lac Bloom.Iron ore concentrate from the mine is transported to the port through existing rail access, which includes three segments. Active production at the Canadian Bloom Lake iron ore mine has completely ceased, and the sale of the firm's its struggling coal division has been completed. Champion’s management team includes professionals with mine development and operations expertise, who also have vast experience from geotechnical work to green field development, brown field management including logistics development and financing of all stages in the mining industry.Michael O’Keeffe, Executive Chairman and CEO at Tel. A spiral separator recovers fine iron from the UCC overflow stream.Champion Iron acquired 735 iron ore railcars from Canadian Iron Ore Railcar Leasing for C$30.1m ($22.67m) for transporting the iron ore from Bloom Lake to the port. Eight-week suspension of its Constancia copper mine in Peru due to covid-19 measures weighed on the company's results. This report will impact all industries helping:Hover over the logos to learn more about the companies who made this project possible.Follow the company to be always up to date with this company Ecomister Evaporator specialises in the design and production of portable... Ecomister Evaporator specialises in the design and production of portable enhanced Ecomister evaporators and turnkey solutions for applications involving tailings ponds and heap leach pads in the mining sector.Follow the company to be always up to date with this companyEcomister Evaporator specialises in the design and production of portable enhanced Ecomister evaporators and turnkey solutions for applications involving tailings ponds and heap leach pads in the mining sector. Ressources Québec, a subsidiary of governmental agency Investissement Québec, is the owner of the remaining 36.8% share. at all-in sustaining costs of $985 to $1,040 per oz.
On April 11, 2016, Champion Iron officially became the new owner of the Bloom Lake Mine facilities, acquired from Cliffs Natural Resources for $10.5 million.The Bloom Lake Mine facilities include a railway that ensures transport of the high-quality iron concentrate to a loading port in Sept-Îles, Québec.Quebec Iron Ore also has 29 residences, two hotels that can house up to 700 fly-in/fly-out workers, and a high-end entertainment centre with a cafeteria that can serve 600 people.Significant investments and structural changes were completed prior to the successful recommissioning of the project in February 2018 including: a new 3.5-kilometre conveyor connecting the mine and plant, an upgrade to the concentrator plan, and access to a new multi-user berth at Pointe-Noire. Bloom Lake.