Asian Metal market analyst Elizabeth Benvin spoke with Jeff Hussey, the Executive Vice President of Business Development for Champion Iron Mines on the development of the Consolidated Fire Lake North Project.
Asian Metals asked Hussey “What makes Champion unique compared to other companies in the area working on similar projects?”:
Consolidated Fire Lake North is located in the southern end of the Labrador Through. It hosts relatively coarse iron ore that is easier to liberate and requires significantly less energy than its peers. This is the main reason why there are five existing iron mines located in the southern part of the Labrador Trough.
The plan is to build a concentrator at Fire Lake North that would be the closest to the Port of Sept-Iles. Highway 389 and a power line runs through the project as well as ArcelorMittal’s private railway. Since this railway is not an available option, a new railway option is under study led by CN Railway and the Caisse de Dépot et de Placements du Québec along with six end-users. This would create a direct link and the shortest route to the Port, which will be reflected in lower operating costs.
Champion has also signed a long term agreement with the Port of Sept-Iles for 10.0Mt/y ship loading capacity with the possibility to increase this annual tonnage.
|Investing Opportunity: Using LME Prices and Base Metals News.|