Champion Iron Limited, through its subsidiary Quebec Iron Ore Inc., owns and operates the Bloom Lake mining complex, located at the southern end of the Labrador Trough, approximately 13 km north of Fermont, Quebec. The Bloom Lake mine is an open-pit mine with two concentrators powered primarily by renewable hydroelectric energy. Phases I and II of the Bloom Lake plant have a combined nominal capacity of 15 Mtpa and produce high-grade iron ore concentrate (66.2% Fe) with low levels of contaminants, and have proven their ability to produce a high-quality concentrate for direct reduction (67.5% Fe). Bloom Lake’s high-grade, low-contaminant iron ore products have earned a premium over the Platts IODEX benchmark price for 62% Fe iron ore. The Company ships its Bloom Lake iron ore concentrate by rail to the loading port in Sept-Îles, Quebec, and has sold it to customers around the world, including China, Japan, the Middle East, Europe, South Korea, India and Canada. In addition to the Bloom Lake mining complex, Champion also has a portfolio of exploration and development projects in the Labrador Trough, including the Kamistiatusset iron ore project located a few kilometers southeast of Bloom Lake, and the Consolidated Fire Lake North iron ore project located approximately 40 km south of Bloom Lake.