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Higher iron prices lift Champion profit

Higher realised prices, lower costs and record monthly production have pushed Quebec-based miner Champion Iron’s (TSX:CIA) September-quarter profit higher.

Higher iron prices lift Champion profit Higher iron prices lift Champion profit Higher iron prices lift Champion profit Higher iron prices lift Champion profit Higher iron prices lift Champion profit

Champion Iron's Bloom Lake mine

The Montreal-headquartered company said the first quarter of commercial production at the Bloom Lake mine resulted in record output for the month of September, which helped push production 20% higher over the June quarter to 1.85 million wet metric tonnes (wmt), at a direct shipping grade of 66.57% iron.

Net profit more than tripled to C$67.5 million, or 9c a share diluted, as revenue for the fiscal 2019 second quarter rose 16% to C...