Rio Tinto’s Q2 iron ore shipments miss after May train derailment
The world's largest producer of iron ore shipped 80.3 million tons of the steel-making commodity in the quarter.
Champion Iron (TSX: CIA) has announced it will gradually ramp up operations at the Bloom Lake mine in Quebec after the provincial government declared mining to be a “priority service.”
On March 24, Champion announced the ramp down of operations following restrictions imposed by Quebec, now lifted.
“The company continues to work with the surrounding First Nation groups and local communities to implement adaptive measures aiming to preserve everyone’s health and safety,” Champion said in a media release.
Last year, the company posted record production records at Bloom Lake in Q1, delivering almost 2 million wet metric tonnes of high-grade iron ore concentrate.
Champion’s stock was up 2.3% on the TSX midday Friday. The company has a C$775 million market capitalization.
