Champion Iron Project Overview and Cost Structure
COMPETITIVE COST STRUCTURE
C$/DMT
CHAMPION IRON
TSX: CIA | ASX: CIA | OTCQX: CIAFF
VALUE-IN-USE (VIU) ADJUSTED IRON ORE COST CURVE (CFR, 62% FE FINES EQUIVALENT)1
$150
$100
INDUSTRY
Approximately 55% industry
VIU adjusted cost increase in
the last 3 years²
CHAMPION IRON
Since 2018, Champion's VIU-adjusted cost position proved
to compete with the industry leading iron ore producers
Q3/2023
Q3/2020
$75
$50
$25
-
$0
250
500
750
1000
1250
1500
MILLION WET METRIC TONNES
Competitive cost profile, adjusted for VIU, compared to global iron ore producers despite recent transitional costs
required for Bloom Lake's ramp-up expanded capacity and current high-grade quality premium at historical low level
Notes: 1. Cost curve by Wood Mackenzie for calendar period Q3/2023, converted to CAD at Q3/2023 average USD/CAD rate of 1.315 according to Bloomberg | 2. 50th percentile cost as of 03/2023, compared to Q3/2020 of US$30/dmt. Data
provided by Wood Mackenzie.
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