Highly prospective exploration company

Resource projects cover more than 1,713 km2 in three provinces at various stages, including the following: hematite magnetite iron formations, titaniferous magnetite & hematite, nickel/copper/PGM, chromite, Volcanogenic Massive and gold.

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Great article on cia bloom

posted on Jan 18, 2018 09:11PM

https://ici.radio-canada.ca/nouvelle/1078683/lac-bloom-fermont-mine-relance-sept-iles?platform=hoots unite

Bright Horizon for Bloom Lake Mine

POSTED ON WEDNESDAY JANUARY 17TH, 2018 AT 6:24 PM

Bloom Lake Mine, near Fermont Photo: CBC / Evelyne Côté

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Iron Quebec Iron ore chief David Cataford on Wednesday presented the details of the relaunch of the Bloom Lake mine to the Septilian business community. According to him, the mine promises a bright future.

A text by Jean-Louis Bordeleau

In front of a sold out room, David Cataford, presented the schedule of this project of 326 million dollars financed by Champion and the government of Quebec.

By the beginning of February, the plant will be supplied with water. In March, blasting and extraction operations will begin. In April, the first loaded iron ship at the Bloom Lake mine will leave the port of Sept-Îles. Starting in June, Champion will invest again to keep the facilities in good condition.

To read :

Fermont: Champion revives production of Bloom Lake mine

David Cataford, Chief Operating Officer, Bloom Lake Mine Photo: CBC

At his conference, David Cataford argued that the mine should be in operation for 20 years if the price of a ton of iron remains above $ 50 a tonne.

But if the market allows it, Champion could extract the iron from the mine for 40 years.

Champion plans to extract 7.4 million tonnes of iron per year from the Bloom Lake mine. As a result, 40 boats a year will dock at the multi-user wharf to export the ore.

What is important to us is credibility. It is to deliver the first plant with the objectives we have set for the market to understand that we are able to deliver on our objectives. But there is nothing that prevents the possible phase 2 or other possibilities that might come.
David Cataford, Chief Operating Officer, Iron Ore Quebec

The Chief Executive Officer of the Côte-Nord Mines, Metals and Utilities Fund, Steve Chapados, corroborates these remarks. According to him, the mine is "destined for a great future".

For a month, the price of iron has risen by about 10 to 20%. We know that the Chinese are looking for a high quality ore that reduces pollutant emissions and requires less energy [to be processed] to give them competitive advantages.
Steve Chapados, General Manager, Caisse des Mines, Metals and Utilities Côte-Nord

Recruitment

Only downside, the mining Champion struggles to recruit all his staff. Of the 450 jobs available, around a hundred positions remain to be filled. Champion is committed to prioritizing the employment of Nord-Côtiers.

[North-Shore] knows the ups and downs [of the metallurgical industry], so they are able to support us in the most difficult times.
David Cataford, Chief Operating Officer, Iron Ore Quebec

In addition, there are facility maintenance contracts. Champion plans to go to tender in the summers of 2018, 2019 and 2020.