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Champion Iron ( (AU:CIA) ) just unveiled an announcement.
Champion Iron Limited has entered into a definitive agreement with Nippon Steel Corporation and Sojitz Corporation to form a partnership for the development of the Kami Project. The agreement involves an initial contribution of $245 million by the partners for a 49% interest in the project, with Champion retaining a 51% stake. This partnership aims to advance the Kami Project without affecting Champion’s financial liquidity, focusing on enhancing project economics and engaging with local stakeholders. The agreement outlines a two-step transaction process, with the initial closing expected in the second half of 2025 and the second closing following the completion of a definitive feasibility study by the end of 2026. The partnership will also explore opportunities for government support, given the inclusion of high-purity iron ore in Canada’s critical minerals list.
The most recent analyst rating on (AU:CIA) stock is a Buy with a A$8.00 price target. To see the full list of analyst forecasts on Champion Iron stock, see the AU:CIA Stock Forecast page.
More about Champion Iron
Champion Iron Limited is a company operating in the mining industry, primarily focusing on the production of high-purity iron ore. The company is involved in the development of the Kami Project, a Direct Reduction grade quality iron ore project located in the Labrador Trough geological belt in southwestern Newfoundland, near Québec’s eastern border.
YTD Price Performance: -16.15%
Average Trading Volume: 1,670,098
Technical Sentiment Signal: Hold
Current Market Cap: A$2.51B
Find detailed analytics on CIA stock on TipRanks’ Stock Analysis page.