CIA Provided an Update Regarding The Forest Fires

Champion Iron Limited (ASX: CIA) provided an update regarding the forest fires in Sept-Îles, Quebec, which have affected a railway crucial for transporting high-purity iron ore concentrate from its Bloom Lake mine to the port of Sept-Îles. On May 28, 2023, forest fires emerged approximately 300 km south of the Bloom Lake mine, leading to disruptions in railway services.

Fortunately, there have been no reported damages to Champion's facilities, and the company is unaware of any significant harm to the railway or third-party infrastructure. As a result, services are expected to resume shortly. However, the interruption of the railway and the main access road may impact the supply chain required to maintain the total operational capacity at Bloom Lake. Despite continuing operations at Bloom Lake, the company expects material delays in sales of its iron ore produced due to the services interruption of the railway.

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