- Champion Iron (TSX:CIA) has temporarily shut down operations at its Bloom Lake mine because of forest fires near Labrador City
- In the evening of July 12, the community, located approximately 20 kilometres from Bloom Lake, was ordered to evacuate
- Eleven wildfires are active in Labrador and current weather conditions have increased potential for fire activity
- Champion Iron Ltd. (TSX:CIA) last traded at C$6.09 per share
Champion Iron (TSX:CIA) has temporarily shut down operations at its Bloom Lake mine because of forest fires near Labrador City.
On July 12, the community of Labrador City, located approximately 20 kilometres from Bloom Lake, was ordered to evacuate.
With the forest fires now only a few kilometres from Bloom Lake, the company initiated its emergency response protocol and is gradually evacuating its workforce to prioritize the safety of its employees.
The provincial government in Newfoundland and Labrador has activated an incident management team to manage the response. Aerial resources are actioning the fire and will be sectioning the fire once it is safe to do so.
11 wildfires are active in Labrador and current weather conditions have increased the potential for fire activity.
Based out of Australia, Champion Iron Ltd. is an iron ore exploration and development company that, through its wholly owned subsidiary, Québec Iron Ore Inc., owns and operates the Bloom Lake Mining Complex on the south end of the Labrador Trough, 13 km north of Fermont, Québec. Bloom Lake is an open-pit operation with two concentrators that primarily source energy from renewable hydroelectric power.
Champion Iron Ltd. (TSX:CIA) last traded at C$6.09 per share.
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(Top image: Champion Iron Ltd.)