Champion Iron Mines Limited - CHM.t is developing base metal and iron properties in western Labrador, central Newfoundland and northeastern Quebec.
The company is one of the largest landholders of iron ore claims located southwest of Fermont and northeast of Schefferville, Quebec.
On February 14, 2013, the Company released NEWS.
"Champion Iron Mines Limited (TSX:CHM)(OTCQX:CPMNF)(FRANKFURT:P02) ("Champion", or the "Company") announces that further to the decision by the Canadian National Railway Company ("CN") released on February 12, 2013, to suspend the multi-user railway feasibility study, Champion reports that it considered the CN proposal for an integrated rail line and terminal handling facility to service the entire Quebec/Labrador iron ore range to be one of its three rail transport options.
Prior to joining the CN feasibility study process, Champion commissioned Rail Cantech who successfully completed a feasibility study for a private rail line from the Company's Consolidated Fire Lake North Project to the Pointe Noire wharf at the Port of Sept-Îles where Champion has reserved sufficient loading and storage capacity. Champion will now re-focus its efforts on a proposed rail line southbound to Pointe Noire and reactivate discussions with relevant parties that can assist the Company in the construction, financing and operation of this more flexible and highly economic alternative.
Tom Larsen, President and CEO of Champion commented, "While we are disappointed with CN's decision not to proceed with their rail line feasibility study at this time, we believe our Consolidated Fire Lake North project has the unique advantage of containing large-scale, superior iron deposits and has now progressed to the stage where it will attract major partners to bring the project into production." Mr. Larsen added, "We are committed to advancing our Consolidated Fire Lake North Project along with the necessary infrastructure and welcome the participation of global investors that take a long-term view and can bring the necessary expertise and resources to develop what we believe to be one of Quebec's most attractive mine projects."
"CHAMPION IRON MINES LIMITED (TSX:CHM)(OTCQX:CPMNF)(FRANKFURT:P02) ("Champion" or the "Company") is pleased to announce that Mr. Beat Frei has been appointed the Company's Director of Project Finance, Europe. Throughout his career Mr. Frei successfully executed mandates in various areas including corporate and infrastructure/project finance. Mr. Frei will be based in Switzerland."