"According to Champion, it has a plan to keep the mine on care and maintenance, at reduced costs, for up to two years should the climate of low iron ore prices prevail. If market conditions allow for a restart, the firm also says it has identified ways to improve mine capacity at Bloom Lake. Through a new mine plan and improved recoveries, Champion said it plans to boost annual production from 6 million tons of iron fines at 66% iron content, to 7 Mtpa at similar grade. It also said its review of the mine prior to the sale indicates the potential for cost reductions, and that commodity traders and steel mills are interested in buying the mine's output.

Champion's flagship property is the Fire Lake North Deposits located in Eastern Quebec, 250 kilometres from the port of Sept-Îles."

http://www.mining.com/840654-2/