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Plan To Restart Bloom Lake Mine Gets $40M Boost + Offtake

by juniorminingnews.com posted 1year ago 366 views
By analyst By Andrew Topf The Bloom Lake Mine’s new owner earlier this month announced new cash for upgrades to the shuttered operation and an offtake agreement with a Japanese trading company to receive iron ore for steelmaking if the mine gets back into commercial production. In December 2015 Champion Iron Ore (TSX:CIA), an iron ore explorer with offices in Canada and Australia, said it will buy the Bloom Lake operation along with its rail assets. The mine’s former owner, Cliffs Natural Resources (NYSE:CLF), shuttered production in late 2014 as part of a greater plan to exit its money-losing Canadian...