Champion Iron Upgrades Bloom Lake to Produce 69% Fe Iron Ore Amid Simandou Competition
Champion Iron plans to upgrade half of its Bloom Lake iron ore output to 69% Fe, investing $500 million in the project. The upgraded plant in Quebec will start producing in Q2 2026, responding to the emergence of high-grade projects like Simandou in Guinea. The new product aims to target steelmakers using electric arc furnaces and direct-reduction processes, shifting exports from China to the Middle East and North Africa. A partnership with Nippon Steel and Sojitz Corp. is also underway for the Kamistiatusset project.
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Champion Iron is upgrading half of its Bloom Lake iron ore production to 69% Fe, investing $500 million, with production expected to begin in Q2 2026. This move responds to the competitive threat posed by high-grade projects like Simandou in Guinea, which offers 65% Fe ore.
Champion's new product will target electric arc furnace users and the direct-reduction iron market, shifting exports from China to Europe, the Middle East, and North Africa. The upgrade will significantly reduce shipping costs. Additionally, Champion has partnered with Nippon Steel and Sojitz Corp. to develop the Kamistiatusset project in Newfoundland, with a feasibility study due by the end of 2026.
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