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Champion Iron saw its shares rise on Thursday after the company’s Bloom Lake mine in Quebec reached its expanded nameplate capacity of 15 million tonnes a year in the last 30 days.
The record production was realized despite an unscheduled outage for several days related to a major crusher failure on one of the conveyor belts, affecting the availability of the Phase 2 concentrator. The company posted revenue of $387.6 million for the three-month period ended September 30, and net income of $65.3 million.for Bloom Lake totalled 1.25 billion tonnes with an average iron content of 28.7% in the measured and indicated categories, and inferred resources of 246.3 million tonnes with an average iron content of 26.6%.
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