In tabling the Budget 2014-2015 this week, the Quebec Finance Minister
The government has set aside a maximum of
It is intended that these funds be allocated towards evaluating the anticipated transportation needs between the Labrador Trough and the port of
Champion's Chairman Mr
"At a time of uncertainty in investment markets regarding the outlook for iron ore, this decision will be seen as a defining point in the history of the mining industry in
Champion's CEO Mr
"This multi-user rail initiative, combined with the financial and operational expertise that Champion has after its recent merger, provides the company with a potentially clearer path towards the eventual delivery of product to the port of
There is a high level of interest in the Labrador Trough as the world's major steel industry groups already see the potential of the region to supply high quality iron ore product, with a range of listed and private iron ore groups active in the region including Champion Iron.
The Labrador Trough hosts one of the world's largest iron ore accumulations, with annual production of some 50 million tonnes. Global majors including Arcelor Mittal and
Champion is an iron exploration and development company with offices in
Consolidated Fire Lake North is located immediately north of Arcelor Mittal's operating
For additional information on
This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about planned operations at the Company's projects, including its joint venture projects. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information, including the risks identified in Champion's annual information forms, management discussion and analysis and other securities regulatory filings by Champion on SEDAR (including under the heading "Risk Factors" therein.. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on forward- looking information. All of Champion's forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of Champion's management and information available to management as at the date hereof. Champion disclaims any intention or obligation to update or revise any of its forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
This press release has been prepared by
Champion Iron Limited (ABN 34 119 770 142) First Floor, 91 Evans St, Rozelle NSW 2039 PO Box 881, Rozelle NSW 2039 T: +61 2 9810 7816 F: +61 2 8065 5017 E: email@example.com FOR FURTHER INFORMATION PLEASE CONTACT:
Champion Iron Limited Michael O'KeeffeExecutive Chairman +612 9810 7816 Champion Iron Limited Thomas LarsenCEO and Director (416) 866-2200 www.championiron.com Media & Investor Enquiries, please contact: Fortbridge +612 9003 0477 Bill Kemmery+61 400 122 449 firstname.lastname@example.org Source: Champion Iron Limited