Canadian Mining Journal


Update: Champion remains optimistic at Bloom Lake

Champion Iron (TSX: CIA; ASX: CIA) is focused on reducing costs at the recently acquired Bloom Lake iron ore mine in the Labrador Trough, as part of a plan to restart the operation when prices for the steelmaking metal improve.

Champion — led by Australian mining tycoon Michael O’Keeffe — closed the $10.5 million acquisition of the Bloom Lake assets and the Quinto claims on April 11, four months after its subsidiary, Quebec Iron Ore, agreed to buy them from affiliates of Cliffs Natural Resources (NYSE:CLF).

Since then, Champion has been busy identifying potential improvements at the high grade iron ore mine.

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