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Champion Iron Subsidiary Signs Rail Transportation Contract
Jun. 20, 2017 08:23AM PST
Base Metals Investing
Champion Iron (ASX: CIA) (TSX: CIA) (the “Company”, or “Champion”) is pleased to announce that its subsidiary Québec Iron Ore (“QIO”) has entered into a transportation agreement (the “Agreement”) with the Quebec North Shore and Labrador Railway Company, (“QNS&L”) for the transportation of iron ore concentrate which would be generated from QIO’s Bloom Lake Iron …
Champion Iron (ASX: CIA) (TSX: CIA) (the “Company”, or “Champion”) is pleased to announce that its subsidiary Québec Iron Ore (“QIO”) has entered into a transportation agreement (the “Agreement”) with the Quebec North Shore and Labrador Railway Company, (“QNS&L”) for the transportation of iron ore concentrate which would be generated from QIO’s Bloom Lake Iron Mine (“Bloom Lake”), located near Fermont, Québec.
The Agreement provides that iron ore concentrate from QIO’s Bloom Lake property will be carried on the QNS&L railway from the Wabush Lake Junction in Labrador City, Newfoundland & Labrador to the Sept-Iles Junction in Sept-Iles, Quebec, a distance of approximately 400 kilometers.
Michael O’Keeffe, Chairman and Chief Executive Officer of Champion and QIO said:
“We are very pleased to have signed a confidential rail transport agreement with QNS&L, a proven and well-recognized rail transporter.
This Agreement will ensure long-term access to some of the world’s largest consumers of iron ore for our future high quality product. The signing of this rail transport agreement also marks yet another significant milestone in the Bloom Lake restart.”