The Bloom Lake project shipped its 10-millionth tonne of iron concentrate since it was reopened in Feb. 2018. (Image: Champion Iron)
QUEBEC – Champion Iron of Montreal says its 63.2% owned subsidiary Quebec Iron Ore has shipped its 10th million tonne of high grade iron concentrate from the Bloom Lake project near Fermont through the Port of Sept-Iles. The concentrate grades 66.2% iron.
Champion recommissioned the Bloom Lake mine and mill in February 2018, and reached this milestone only 18 months later. Nameplate capacity of 7.4 million t/y was reached before the beginning of this year. Concentrate is destined for customers in Asia, Europe and the Middle East.
A phase two feasibility study has been produced for Bloom Lake. It would double mill throughput to 15 million t/y, cost $589.8 million and add 20 years to the mine life. An expanded project carries an after tax net present value of $956 million and a 33.4% internal rate of return. A 2.4-year payback is anticipated.
More information can be found in the August 2019 roadshow presentation at www.ChampionIron.com.