Direct reduction pellet feed project, Canada – update
Name of the Project
Direct reduction pellet feed (DRPF) project.
Location
Near the town of Fermont, in north-east Quebec, Canada.
Project Owner/s
Canadian iron-ore miner Champion Iron.
Project Description
The project will upgrade the Bloom Lake Phase II plant to produce an estimated 7.5-million tonnes a year of DRPF-quality iron-ore at 69% iron, with combined silica and alumina content below 1.2%.
The project has an estimated 20-year life.
Potential Job Creation
The construction phase of the project is expected to create about 150 jobs over two years and an additional 70 permanent jobs once completed.
Net Present Value/Internal Rate of Return
The pretax net present value, at an 8% discount rate, is estimated at C$1.23-billion, with an internal rate of return of 30.1%.
Capital Expenditure
$470.7-million.
Planned Start/End Date
The project is expected to be completed in the second half of 2025, which is subject to completing key construction milestones in mid-2024.
Latest Developments
Champion Iron has reported record sales of high-grade iron-ore in the first quarter of its 2026 financial year while maintaining progress on its project and reinforcing its balance sheet through a $500-million debt refinancing.
The project remains on track for commissioning in December 2025. It will upgrade half of Bloom Lake’s capacity to direct-reduction-grade iron-ore, with shipments expected to start in the first half of calendar 2026. The company has invested C$387-million of a projected C$470.7-million on the project to date.
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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