Champion Iron acquires Pointe Noire Pellet Plant

Champion Iron reported that it has signed a definitive purchase agreement for the acquisition of the iron ore pellet plant Pointe Noire in Quebec. The company has also signed a memorandum of understanding (MoU) with an international steel producer to evaluate the re-commissioning of the pellet plant and complete a feasibility study to produce direct reduction grade pellets.

The location of the pellet plant is near a port facility currently used by Champion. The plant's original annual production is around 6 million tons.