Champion Iron Mines mulls iron ore offtake deals

Feb 25, 2014 | 05:30 PM | Stacy Irish

Tags  Champion Iron Mines, Jeff Hussey, steel, iron ore, Baotou Chen Hua Investment, offtake agreement, Consolidated Fire Lake North Project, Stacy Irish

LONDON — Canadian iron ore development company Champion Iron Mines Ltd. and partner Baotou Chen Hua Investment Ltd. are mulling a potential offtake agreement with Chinese mills for their Quebec iron ore sinter concentrate output, Jeff Hussey, Champion’s senior vice president of corporate development, told AMM.

Production is slated to come online in 2016 and will target customers in China, seen as major and prime buyers of iron ore to fuel ongoing demand, as well as European steelmakers.

"We’re still committed to produce 10 million tonnes of iron ore concentrate and 20 million tonnes of iron ore sinter concentrate per year in a later Phase 2 of project development. Production is still on track to start in 2016," Hussey said. "The plan is to produce 9.3 million tonnes annually over the mine life and 9.8 million tonnes annually in the first five years."....

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