Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Iron ore miner Champion Iron has completed the acquisition of the Kami project located on the border of Quebec, Canada for a consideration of $15mn cash. 


The firm, headquartered in Australia, has also secured an additional 8mn mt per annum port capacity at the port of Sept-Iles. This port is being used for iron ore exports from its Bloom Lake project which is located very close to the Kami project the company said in a statement. 


Champion’s chief executive officer, David Cataford stated that the additional port capacity will de-risk both projects and add a large-scale prospective.


The mine is expected to produce 16mn mt of iron ore concentrate per annum and the project’s feasibility study was completed by the previous owner of the mine, however, Champion Iron still plans on conducting another feasibility study to further understand the scope, it stated. 


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