QMI Agency
Monday, 5 June 2017 13:30 UPDATE Monday, 5 June 2017 13:30

The Government of Québec has granted $ 5.2 million in funding to Iron Mine Quebec, a subsidiary of Champion Iron Mines, to carry out two energy conversion projects at the Bloom Lake mine.

The announcement was made Monday morning in Fermont, in the presence of the minister responsible for the North Shore, Pierre Arcand.

The first project involves the replacement of a light-oil-fired steam boiler with an electro-steam boiler in the plant's main boiler room.

The second project involves the installation of an overhead conveyor for the transport of ore.

After meeting with Champion Iron president and CEO Pierre Arcand was encouraged by the mining efforts to restart the Bloom Lake mine.

"Regardless of the price of iron, they have found a way to control costs, to make it much more efficient," the minister said.

"I think it's only a matter of time before investors complete the funding for Lake Bloom. And we will be there when the production will leave, I hope, very soon. "