Champion Iron partners for iron ore project

Champion Iron (ASX:CIA) has announced a partnership with Nippon Steel Corporation and Sojitz Corporation to advance the Kamistiatusset Project (Kami). The deal includes a $245 million investment for a 49% stake. A definitive feasibility study is expected by mid-2026.

Overview of partnership and future goals

Champion Iron has partnered with Nippon Steel and Sojitz Corporation, who will invest $245 million for a 49% stake in the Kami Project. Champion Iron retains a 51% interest and will manage the project. The partnership aims to complete a definitive feasibility study by mid-2026. The project, located in the Labrador Trough, is set to produce high-purity iron ore concentrate, aligning with global decarbonization efforts. With an estimated 25-year mine life, the project is strategically important as a critical mineral resource. The collaboration will advance environmental assessments and engage local communities. Champion Iron is optimistic about the project's potential contribution to sustainable steelmaking and economic growth.

Executive insights on the partnership

This partnership represents a significant milestone for the Kami Project, which is a critical mineral resource recognized by the regional governments. Our collaboration with Nippon Steel and Sojitz Corporation will help in advancing the project's feasibility assessment and potential development, contributing to the decarbonization of steelmaking globally.