On April 11, 2016, Champion Iron, the development and exploration company behind Quebec Iron Ore, became the owner of the Bloom Lake Mine facilities.
The property is located approximately 13 km north of Fermont, Québec and 10 km north of the Mont Wright iron ore mining complex belonging to ArcelorMittal Mines Canada.
The Bloom LakeMine facilities include a railway to efficiently transport the high-quality iron concentrate to a loading port in Sept-Îles, Québec.
Now in commercial production since June 2018, the Bloom Lake Mine has proven its ability to economically produce high-grade 66.2% Fe iron ore at or above its nameplate capacity of 7.4 Mtpa.
Published in February 2017, a feasibility study showed that resumption of mining activities at Bloom Lake was financially viable and competitive in the global iron ore industry.
The study also revealed that the Bloom Lake Mine has the potential to become one of the major long-term iron mines in the Northern Québec region. Consequently, resumption of production will have a huge impact on local, regional and provincial economies.
Spurred by this study, and following a successful recommissioning in February 2018, the Company released a subsequent feasibility study in June 2019. The latest study proposed the completion of an expansion that was interrupted by the prior owner of the property, which would double the nameplate capacity of the Bloom Lake Mine to 15 Mtpa, supported by a mine life of approximately 20 years.
Relaunching the Bloom Lake Mine required several key investments, including an upgrade of the concentration plant, a reassessment of the mine plan, and a new 3.5-kilometer conveyor that would reduce truck hauling. In addition, our company now benefits from a new multi-user port granting access to Capesize vessels, reducing freight costs. To date, close to US$4 billion have been invested in the Bloom Lake Mine complex.
Following the release of the Phase I Feasibility Study in February 2017, the Company successfully recommissioned the project on time and on budget in February 2018.
With a proven track record and a growing global customer base, the Company is well positioned to consider the completion of the Phase II expansion project as detailed in the Feasibility Study released in June 2019, which proposes doubling the nameplate capacity at Bloom Lake Mine to 15 Mtpa.
Along with this track record, access to infrastructure, a long mine life, quality reserves with low contaminants and aligned communities and partners, Bloom Lake is rapidly becoming one of the major long-term iron mines in the Nord-du-Québec region.