The company is optimistic its recently acquired Bloom Lake Mine in Quebec, Canada, will be able to deliver 7 million tons of iron ore per year after a number of operational improvements.

 

Historically, operations at the mine have delivered annual volumes of 6 million tons of iron fines at 66% elemental Iron.

 

The Bloom Lake Mine is a joint venture with the Quebec government, with the company also in discussions to advance projects to improve rail and port access.

 

Champion Iron reported a net loss of $2.4 million at 30 September 2015.