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Champion Iron ( (AU:CIA) ) has provided an update.
Champion Iron has formed a partnership with Nippon Steel and Sojitz for the development of the Kami Project, an iron ore initiative in Newfoundland. The partners have made an initial contribution of $68.6 million, with Champion holding a 51% stake. The project’s feasibility study is expected by the end of 2026, with further investment contingent on its results. The Kami Project, acquired in 2021, is set to produce high-grade iron ore with a 25-year mine life and significant economic potential, enhancing Champion’s market position.
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, through its subsidiary Quebec Iron Ore Inc., operates the Bloom Lake Mining Complex in Québec, known for producing high-grade iron ore concentrate. The company focuses on upgrading its production to direct reduction quality iron ore and has a portfolio of exploration and development projects, including the Kami Project.
YTD Price Performance: -15.61%
Average Trading Volume: 1,809,000
Technical Sentiment Signal: Hold
Current Market Cap: A$2.52B
Learn more about CIA stock on TipRanks’ Stock Analysis page.