Champion Iron reports ongoing load-out interruption at Bloom Lake mine

Champion Iron (TSX: CIA; OTCQX: CIAFF) reported a recent unforeseen interruption to its train load-out facility at the Bloom Lake mine which ships iron ore concentrate by railway to the port of Sept-Îles, QuéQue. On Dec. 3, 2024, the company reported a breakage occurred to machinery required to load iron ore concentrate onto rail cars.

In a company statement, the Champion said it was confident it will be able to complete repairs required to resume its normal shipping activities in the coming days. Champion Iron spokespeople noted that sales of iron ore concentrate were down temporarily due to the interruption. The situation has persisted longer than expected and remains ongoing. The company stated it is stockpiling iron ore concentrate at the mine.

Champion – through its wholly-owned subsidiary Quebec Iron Ore – owns and operates the Bloom Lake mining complex, located on the south end of the Labrador trough, approximately 13 km north of Fermont, Que.. Bloom Lake is an open pit with two concentrators that primarily source energy from hydroelectric power, having a combined nameplate capacity of 15 million t/y and producing low contaminant high-grade 66.2% iron ore concentrate with a proven ability to produce a 67.5% iron direct reduction quality iron ore concentrate. More information is posted on www.ChampionIron.com.