- Business
- Champion Iron Limited Champion Iron Limited engages in the acquisition, exploration, development, and production of iron ore properties in the Labrador Trough of Quebec, Canada. Through its wholly-owned subsidiary Quebec Iron Ore Inc., the company owns and operates the Bloom Lake Mining Complex, an open-pit truck-and-shovel operation with two concentration plants powered primarily by renewable hydroelectricity and a combined nameplate capacity of 15 million wet metric tonnes per annum of high-grade 66.2% Fe iron ore concentrate; it also produces 67.5% Fe direct reduction quality iron ore concentrate, with ongoing investments to upgrade half of Bloom Lake's capacity to direct reduction quality pellet feed reaching up to 69% Fe iron content. Champion ships its lower-contaminant, premium-grade products by rail from Bloom Lake to the port of Sept-Îles, Quebec, for global delivery to customers in China, Japan, the Middle East, Europe, South Korea, India, and Canada; in addition, the company holds the Kami Project, a direct reduction-grade iron ore development located 21 kilometers southeast of Bloom Lake with a pre-feasibility study outlining average annual production of 9 million wet metric tonnes of over 67.5% Fe concentrate over 25 years, and a portfolio of exploration properties including the Cluster II assets within 60 kilometers south of Bloom Lake. Founded in 2006 and headquartered in Montreal, Quebec, with a corporate office in Sydney, Australia, Champion targets steelmakers seeking high-purity iron ore for decarbonized production. Most recently, on July 21, 2025, Champion enters a definitive framework agreement with Nippon Steel Corporation and Sojitz Corporation to form Kami Iron Mine Partnership for the Kami Project, under which the partners complete an initial closing on September 30, 2025, contributing $68.6 million for minority stakes of 30% and 19% respectively while Champion retains 51% ownership and operatorship; a second closing remains contingent on a definitive feasibility study by end-2026 and positive investment decisions, with further partner contributions of $176.4 million planned thereafter.