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An update from Champion Iron ( (AU:CIA) ) is now available.
Champion Iron Limited said rail service has resumed on the Quebec North Shore and Labrador Railway following a third-party train derailment in late December that temporarily disrupted the route used to transport high-purity iron ore concentrate from its Bloom Lake mine to the port of Sept-Îles. While Bloom Lake’s mining operations were not materially affected, the company was forced to stockpile concentrate on site during the interruption and is now working with the railway operator to optimize the gradual restart of services and limit any impact on its operations and sales, a development that should help stabilize logistics and mitigate potential ripple effects for its global customer base.
The most recent analyst rating on (AU:CIA) stock is a Buy with a A$7.00 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 Canadian-based iron ore producer that owns and operates the Bloom Lake Mining Complex in Québec through its subsidiary Quebec Iron Ore Inc. Bloom Lake is an open-pit mine with two concentration plants powered primarily by renewable hydroelectricity and a combined nameplate capacity of 15 million wet metric tonnes per year, producing high-grade, low-contaminant iron ore concentrate of 66.2% Fe with the capability to reach direct reduction quality of 67.5% Fe and targeted upgrades to pellet feed of up to 69% Fe. Champion’s high-purity products command a premium to the P62 index and are shipped by rail to the port of Sept-Îles for global customers across Asia, the Middle East, Europe and North America; the company also holds a 51% stake in the nearby Kami Project and maintains a portfolio of additional exploration and development assets in the Labrador Trough.
Average Trading Volume: 1,454,265
Technical Sentiment Signal: Buy
Current Market Cap: A$3.48B
See more insights into CIA stock on TipRanks’ Stock Analysis page.