Quebec Iron Ore Restarts the Bloom Lake Mine With First Rail Shipment From Fermont

Quebec Iron Ore Inc. (“QIO”), a Champion Iron Limited (ASX:CIA) (TSX:CIA) (“Champion” or the “Company”) subsidiary, is pleased to announce that the first train being loaded with16,500 metric tonnes of high-grade 66% Fe iron concentrate from QIO’s Bloom Lake Iron Ore Mine (“Bloom Lake”) will leave the mine site today, which is located near Fermont, Quebec.

As quoted in the press release:

“Significantly, the first train confirms we have been able to produce a high-grade iron concentrate of exceptional quality, as outlined in the mine’s Feasibility Study. Furthermore, not only are we on schedule and within budget, but with current iron ore prices of US$78 pmt for 62% Fe being substantially higher than the estimates of US$56 pmt used in our planning, we are already ahead of forecast. This is an outstanding result,” Executive Chairman and CEO of QIO and Champion, Michael O’Keeffe said.

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