Champion Iron, an iron ore producer in Canada, signed a definitive purchase agreement for the acquisition of Pointe Noire, the iron ore pellet plant in Quebec.

The location of the pellet plant is near a port facility that Champion currently uses, and its original annual production is approximately 6 million tons.

In addition, Champion also entered into a memorandum of understanding (MoU) with an international steelmaker to complete a feasibility study to evaluate the recommissioning of the pellet plant and produce direct reduction grade pellets.