La mine de fer du lac Bloom ressuscite

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for some reason Agoracom is not allowing me to paste the full  Google  Translation...

HIGHLIGHTS:

By December, the neighboring Côte-Nord mining site will be busy with 450 workers to prepare for the resumption of production in the first quarter of 2018. By the end of October, the mining company announced that it had entered into a agreement in principle with the Steelworkers Union, representing Bloom Lake workers.



Sold production

The Bloom Lake mine is expected to produce 7 million tonnes of iron ore per year. The Japanese Sojitz and the giant Glencore have promised to buy all of the future production. The tons of ore will be transported by train via Rio Tinto IOC's QNS & L railway before reaching the Pointe-Noire sector in Sept-Îles.



High quality ore

Champion intends to succeed despite a still fragile iron market thanks to the high quality ore at its Bloom Lake mine site. The recovery system has been improved to produce 66.2% iron ore, which will provide a premium on quality at the time of sale. The market price is set according to one tonne of concentrate with an iron content of 62%. In its feasibility study, Champion claims to be profitable with prices hovering around US $ 60 per tonne. Yesterday, the ton of iron was trading around $ 61 US.