- Workers at Champion Iron (TSX:CIA) have been gradually returning to the Bloom Lake mine, as forest fires subside
- The mine had temporarily shut down operations at Bloom Lake because of forest fires near Labrador City, approximately 20 kilometres from the mine, and was ordered to evacuate
- The company noted that while the forest fires remain active north of Bloom Lake, recent events did not affect its infrastructure, which should enable a gradual ramp-up of production and rail shipments
- Champion Iron Ltd. (TSX:CIA) last traded at C$5.96 per share
Workers at Champion Iron (TSX:CIA) have been gradually returning to the Bloom Lake mine, as forest fires subside.
This past weekend, the mine had temporarily shut down operations at Bloom Lake because of forest fires near Labrador City, as the community, located approximately 20 kilometres from the mine, was ordered to evacuate. Now the evacuation pre-alert has been lifted for the nearby town of Fermont, Québec.
The company noted that while the forest fires remain active north of Bloom Lake, recent events did not affect its infrastructure, which should enable a gradual ramp-up of production and rail shipments from Bloom Lake to Sept-Îles. However, the team could not provide an immediate timetable for when that would happen.
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. 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$5.96 per share.
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(Top photo of the Bloom Project: Champion Iron Ltd.)