Champion Iron flags sales hit after machinery breaks down

The news: Champion Iron has has flagged a temporary hit to sales of iron ore concentrate after an unforeseen and ongoing interruption of the load-out facility at its Bloom Lake mine in Canada.

The context: The iron ore miner reported a breakage to machinery required to load iron ore concentrate to rail cars, interrupting rail shipments from the mine to the port of Sept-Îles in Quebec.

Champion Iron noted that while actions have been taken to make the necessary repairs, the situation persisted "longer than expected and remains ongoing".

Sales of iron ore concentrate are temporary impacted, but the company said its operations remain unaffected with iron ore being stockpiled at Bloom Lake. It expects to resume normal shipping activities in the coming days.