Bloom Lake flowers early

DUAL-listed Champion Iron has started shipping high-grade 66% iron concentrate from its snow-covered iron ore mine in Quebec, marking a significant step of the Bloom Lake operation’s potential to become a major supplier of high quality iron ore to global markets.

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Loading the first train with 16,500 tonnes comes just three months after the formal decision was made to restart operations at the mine, and about a week after the throwing on the ‘on’ switch at the plant, following optimisation of the separation circuit to materially improve the ore recovery rate.

The recommissioning had been delivered ahead of budget and the scheduled March opening, Champion said.

Capital expenditure was C$327 million, including $157 million spent on upgrades at the mine.

Bloom Lake has reserves of some 411 million tonnes, and was estimated to generate more than $15 billion in revenue over the next 20 years. Annual production is expected to be around 7.4Mtpa.

“Significantly, the first train confirms we have been able to produce a high-grade ...