MONTRÉAL, Feb. 29, 2024 /CNW/ – (SYDNEY, March 1, 2024) – Champion Iron Limited (TSX:CIA) (ASX: CIA) (OTCQX:CIAFF) (“Champion” or the “Company”) is pleased to announce that its unionized employees, represented by the Syndicat des Métallos (the “Métallos”), who comprise approximately 63% of the workforce at the Company’s Bloom Lake mine (“Bloom Lake”), have ratified a new 5-year collective bargaining agreement (the “CBA”) with the Company on February 29, 2024 (Montréal time).
Champion’s CEO, Mr. David Cataford said “The CBA, which provides additional stability for our workforce, the community and our Company, ensures we maintain a strong and mutually beneficial partnership with our employees. The CBA balances the need to remain competitive by attracting the best talent while also ensuring our Company can navigate uncertain economic environments. This significant milestone enables our Company to continue to positively impact local communities as we deploy our vision to be a leader in the green steel supply chain.”
Champion, through its wholly-owned subsidiary Quebec Iron Ore Inc., owns and operates the Bloom Lake Mining Complex, located on the south end of the Labrador Trough, approximately 13 km north of Fermont, Québec. Bloom Lake is an open-pit operation with two concentrators that primarily source energy from renewable hydroelectric power. The two concentrators have a combined nameplate capacity of 15 Mtpa and produce low contaminant high-grade 66.2% Fe iron ore concentrate with a proven ability to produce a 67.5% Fe direct reduction quality iron ore concentrate. Benefiting from one of the highest purity resources globally, the Company is investing to upgrade half of the Bloom Lake mine capacity to a direct reduction quality pellet feed iron ore with up to 69% Fe. Bloom Lake’s high-grade and low contaminant iron ore …