CDPQ Helps Finance Restart of Bloom Lake Iron Ore Mine
Champion Iron Limited, a listed company, revealed on July 13, 2017, that it secured US$ 180 million in debt financing conditional commitments for its subsidiary Québec Iron Ore Inc. from Caisse de dépôt et placement du Québec (CDPQ) and Sprott Resource Lending. This financing is part of the restart of Bloom Lake Iron Ore Mine’s operations, located near Fermont, Québec. In May 2017, Champion Iron Limited completed C$ 40 million in bridge financing, which included a C$20 million loan from Sojitz Corporation. The Bloom Lake property is located on the south end of the Labrador Trough, approximately 13 km north of Fermont, Quebec, and 10 km north of the Mount-Wright iron ore mining operation of ArcelorMittal Mines Canada.
Two Debt Tranches
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