Business
CHAMPION IRON PROVIDES AN UPDATE ON A THIRD-PARTY TRAIN DERAILMENT
SYDNEY, December 31, 2025 – Champion Iron Limited (TSX: CIA) (ASX: CIA) (OTCQX: CIAFF) ("Champion" or the "Company") is providing an update regarding a third...
About this update from Champion Iron Ltd.
[{"type":"text","content":"MONTRÉAL, Dec. 30, 2025 /CNW/ - SYDNEY, December 31, 2025 – Champion Iron Limited (TSX: CIA) (ASX: CIA) (OTCQX: CIAFF) ("Champion" or the "Company") is providing an update regarding a third-party train derailment on the Quebec North Shore and Labrador Railway ("QNSL"), which is utilized to transport high-purity iron ore concentrate from the Company's Bloom Lake mine ("Bloom Lake") to the port of Sept-Îles (the "Railway"). The derailment on the Railway occurred in the evening of December 28, 2025 (Montréal time) (the "Derailment"). According to the Railway operator, there were no related injuries and services should resume within seven to ten days following the Derailment. Assuming Railway services restart as planned, the disruptions are not expected to result in material impacts on operations at Bloom Lake and sales of high-purity iron ore concentrate. Champion is collaborating with QNSL and local partners to mitigate the impact of the Derailment on its operations and sales and expects to provide additional information as the situation evolves.","length":1139,"tagName":"p"},{"type":"text","content":"About Champion Iron Limited","length":27,"tagName":"p"},{"type":"text","content":"Champion, through its wholly-owned subsidiary Quebec Iron Ore Inc., owns and operates the Bloom Lake Mining Complex located on the south end of the Labrador Trough, approximately 13 kilometres north of Fermont, Québec. Bloom Lake is an open-pit operation with two concentration plants that primarily source energy from renewable hydroelectric power, having a combined nameplate capacity of 15M wet metric tonnes per year that produce lower contaminant high-grade 66.2% Fe iron ore concentrate with a proven ability to produce a 67.5% Fe direct reduction quality iron ore concentrate. Benefiting from one of the highest purity resources globally, Champion is investing to upgrade half of the Bloom Lake's mine capacity to a direct reduction quality pellet feed iron ore with up to 69% Fe. Bloom Lake's high-grade and lower contaminant iron ore products have attracted a premium to the P62 index. Champion ships iron ore concentrate from Bloom Lake by rail, to a ship loading port in Sept-Îles, Québec, and has delivered its iron ore concentrate globally, including in Ch...