Champion Iron Limited

Champion Iron Limited is a leading Canadian mining company dedicated to producing high-grade iron ore concentrate, critical for the global transition to greener steel production. The company's flagship asset, the Bloom Lake Mining Complex, is situated in the iron-rich Labrador Trough in Quebec, a Tier-1 mining jurisdiction. With a nameplate capacity of 15 million tonnes per annum (Mtpa) and ongoing upgrades to produce direct reduction quality pellet feed (DRPF) with up to 69% iron content, Champion is strategically positioned as a key player in the decarbonized steelmaking value chain.

Champion Iron leverages a robust operational foundation, including state-of-the-art infrastructure powered by renewable hydroelectric energy, to ensure sustainable and efficient production. In addition to Bloom Lake, the company holds a portfolio of development projects, including the Kami Project and Cluster II properties, reinforcing its potential for long-term growth and resource expansion.

Listed on the Toronto Stock Exchange (TSX: CIA), the Australian Securities Exchange (ASX: CIA), and the OTCQX (CIAFF), Champion Iron is backed by a seasoned management team committed to operational excellence, environmental stewardship, and delivering value to stakeholders. As global demand for high-grade iron ore increases, Champion is poised to meet the growing needs of green steel producers while driving economic growth in the regions it operates.

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Champion Iron Limited offers a compelling investment opportunity as a leading producer of high-grade iron ore, essential for the steel industry's shift toward greener production methods. The Bloom Lake Mining Complex is a cornerstone asset, producing premium iron ore concentrate with an iron content of up to 67.5%, and soon to include direct reduction pellet feed (DRPF) with up to 69% iron content. This positions Champion to capitalize on rising demand for high-purity iron ore, driven by global decarbonization trends in steelmaking.

The company’s significant resource base, combined with investments in advanced technologies and sustainable practices, ensures long-term value creation. Bloom Lake’s low-contaminant iron ore attracts pricing premiums over industry benchmarks, enhancing its profitability. Additionally, inherited infrastructure minimizes capital requirements, giving Champion a competitive edge in terms of cost efficiency and operational scalability.

Champion is also advancing the Kami Project, a high-grade iron ore development located near Bloom Lake, further strengthening its growth pipeline. Strategically located in Quebec, a top-tier mining jurisdiction, the company benefits from stable governance, strong infrastructure, and support for critical mineral development.

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Champion Iron Limited is led by an experienced and visionary management team, committed to driving sustainable growth and operational excellence. The team combines deep expertise in mining, project development, and corporate governance, ensuring the successful execution of the company’s strategic objectives.

At the helm is David Cataford, Chief Executive Officer and Director, he joined Champion Iron in 2014. He held the position of Chief Operating Officer before being appointed CEO of the Company in 2019. Mr. Cataford steered the recovery of assets, the restart of the Bloom Lake mine and today, with the support of a team of over 1,160 employees, he leads all of the company’s growth projects.

Donald Tremblay joined Champion Iron in 2022 as Chief Financial Officer. With an extensive experience of over 25 years in finance and the mining industry, he has developed strategic skills in capital markets, investor relations and corporate development, which complement his experience in accounting, taxation, controls and compliance.

Alexandre Belleau, Chief Operating Officer, joined Champion Iron in 2016. As Chief Operating Officer, he oversees many sectors of the company – logistics, operations, exploration and projects, which benefit from his expertise in business development and project management. 

Champion’s leadership team is supported by an experienced Board of Directors, including industry veterans with extensive knowledge of mining, finance, and sustainability. 

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Champion Iron Limited is executing a robust growth strategy centered on expanding its high-grade iron ore production capacity, enhancing operational efficiency, and leading the transition to sustainable mining practices. The company’s flagship Bloom Lake Mining Complex is at the core of this strategy, with investments underway to upgrade half of its 15 Mtpa nameplate capacity to produce direct reduction pellet feed (DRPF) with an iron content of up to 69%. This aligns Champion with the growing demand for high-purity iron ore in the decarbonized steel industry.

Champion is also advancing the Kami Project, a high-grade iron ore development in proximity to Bloom Lake, with a focus on leveraging synergies from existing infrastructure. This project further supports the company’s ambition to be a long-term leader in supplying high-quality raw materials to global markets.

Environmental stewardship is a fundamental pillar of Champion’s growth plan. The company is committed to achieving its 2030 target of a 40% reduction in Scope 1 and 2 emissions and carbon neutrality by 2050. Champion integrates renewable hydroelectric power into its operations and continues to explore opportunities to further reduce its carbon footprint.

Through continuous operational improvements, exploration, and strategic investments, Champion Iron is well-positioned to drive sustainable growth. By maintaining strong relationships with local communities, Indigenous groups, and governmental bodies, the company ensures that its expansion plans align with rigorous environmental and social standards.

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Champion Iron Limited is financially well-positioned to advance its growth initiatives, supported by a strong balance sheet and disciplined capital management. The company’s flagship Bloom Lake Mining Complex benefits from existing infrastructure, significantly reducing capital requirements and ensuring efficient operations.

For the six-month period ending September 30, 2024, Champion reported revenues of $818.1 million, a 19% increase compared to the same period in 2023. This growth reflects higher iron ore concentrate sales, driven by improved operational capacity and increased global demand for high-grade products. Champion maintains a healthy cash position, with $183.8 million in cash and equivalents as of September 30, 2024, alongside available liquidity of $759.3 million, including credit facilities.

The company’s cost-efficiency remains a competitive advantage, with an all-in sustaining cost (AISC) of $96.3 per dry metric tonne (dmt) for the first half of FY2025. This positions Champion among the lower-cost producers in the high-grade iron ore segment.

Looking ahead, Champion is strategically allocating resources to fund key projects such as the DRPF upgrade at Bloom Lake and the Kami Project. The DRPF project is expected to deliver significant economic returns, with a projected Net Present Value (NPV) of $738.2 million and an Internal Rate of Return (IRR) of 24.0% after tax.

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Champion Iron Limited is at the forefront of the global transition to sustainable mining and green steel production. With its flagship Bloom Lake Mining Complex and a robust portfolio of growth projects, the company is well-positioned to meet the rising demand for high-grade iron ore while delivering long-term value to stakeholders.

Champion’s commitment to operational excellence, cost efficiency, and environmental stewardship underscores its vision of being a leader in sustainable resource development. Strategic investments in direct reduction pellet feed (DRPF) production and the advancement of the Kami Project highlight its proactive approach to innovation and growth.

Supported by a seasoned management team, inherited infrastructure, and a strong financial position, Champion has a de-risked pathway to expansion and value creation. Its dedication to community partnerships and rigorous ESG standards further solidifies its role as a responsible operator in the mining sector.

As the world moves toward decarbonization and a greener future, Champion Iron Limited is uniquely positioned to play a pivotal role in supplying the essential materials for a sustainable global economy. For investors seeking a forward-thinking, high-performing mining company, Champion represents a rare and compelling opportunity in a Tier-1 jurisdiction.

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