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Construction|Iron Ore|PROJECT
Construction|Iron Ore|PROJECT
construction|iron-ore|project

Bloom Lake direct reduction pellet feed project, Canada – update

Iron-ore stockpiles

Photo by ©Reuters

9th February 2024

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor

     

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Name of the Project
Bloom Lake direct reduction pellet feed (DRPF) project.

Location
Near the town of Fermont, in north-east Quebec, Canada.

Project Owner/s
Canadian iron-ore producer Champion Iron.

Project Description
A feasibility study has evaluated the further upgrading of Bloom Lake’s iron-ore concentrate to a DRPF-quality iron-ore product, resulting in an average life-of-mine production of about 7.5-million tonnes a year of DRPF-quality iron-ore at 69% iron, with combined silica and alumina content below 1.2%.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an estimated after-tax net present value of $738.2-million and an internal rate of return of 24%.

Capital Expenditure
$470.7-million.

Planned Start/End Date
Project construction is expected to take 30 months.

Latest Developments
Champion Iron announced a final investment decision for the project in January 2024, consequently securing the project’s expected commissioning in the second half of 2025.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Champion Iron, tel +1514316 4858 or email info@championironmines.com.

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Edited by Creamer Media Reporter

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