Name of the Project
Kamistiatusset iron-ore project.

Location
Western Labrador, Canada.

Project Owner/s
Kami Iron Mine Partnership, comprising iron-ore mining and development company Champion Iron (51%), Japan’s Nippon Steel (30%) and trading house Sojitz (19%).

Project Description
Champion Iron has evaluated the construction of mining and processing facilities to produce direct reduction- (DR-) grade pellet feed iron-ore from the mining properties of the Kami mine.

The prefeasibility study, completed in March 2024, details an operation with a 25-year life-of-mine (LoM), with average DR quality iron-ore concentrate production of about 8.6-million tonnes a year at more than 67.5% iron.

The project is planned as a conventional openpit mine, combined with an in-pit crushing system (IPCS) for waste rock. Mining operations will use drills and haul trucks, together with hydraulic shovels, and a semimobile waste IPCS, with the ore crusher located at the pit exit on the east side.

The project contains the Rose pit, which is to be divided into three phases. The peak mining rate is expected to be 81-million tonnes a year over the LoM.

A total of 643-million tonnes of ore will be mined at an average total iron-ore grade of 29.2%, with a total of 1.02-billion tonnes of combined waste and overburden, resulting in a stripping ratio of 1.6 t of waste per tonne of ore mined.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
A pretax net present value, at an 8% discount rate, of $1.48-billion and an internal rate of return of 12.1%, with a payback of seven years, have been estimated for the project.

Capital Expenditure
$3.86-billion.

Planned Start/End Date
The project is expected to take 48 months to complete, following a final investment decision.

Latest Developments
Champion Iron has finalised the first phase of its partnership with Japan’s Nippon Steel and trading house Sojitz to advance the project.

The partners have injected an initial $68.6-million into the newly established Kami Iron Mine Partnership. 

A second closing, subject to a definitive feasibility study, expected by the end of 2026, and a positive interim investment decision, will result in the partners’ contributing a further $176.4-million.

Key Contracts, Suppliers and Consultants
None stated.

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