Canadian iron-ore project reviver Champion Iron on Thursday announced that subsidiary Quebec Iron Ore (QIO) has signed an off-take agreement and arranged bridge financing for the restart of the Bloom Lake iron-ore mine, located about 400 km north of the Port of Sept-Îles, in Quebec.
Japanese commodity trader Sojitz Corporation has agreed to take up to three-million dry tonnes a year of high-grade iron-ore for an initial five-year period, once commercial production resumes. The agreement will automatically extend for further five-year terms.
