Champion Iron Project Overview and Cost Structure
DRPF PROJECT UPDATE
CHAMPION IRON ☑
TSX: CIA | ASX: CIA | OTCQX: CIAFF
Project underway to upgrade the Phase II plant, from 66.2% to
69% Fe, to produce 7.5 Mtpa of DRPF quality iron ore, expected
to attract significant additional pricing premium
PROJECT MILESTONES
→ In connection with the positive findings of the DRPF
Project study released in January 2023, the Company
advanced work programs to protect the Project schedule
and provided a final investment decision in January 2024
→ Project advancing as planned, including a cumulative
investment of $59.9M as of December 31, 2023, with
commissioning expected in calendar H2/2025, subject to
key construction milestones to be completed in mid-2024
→ Project milestones to date include:
Initiated procurement activities for long lead items
Received allocation of hydroelectric power
Advanced detailed engineering
Capex
Net Present
Value ("NPV")
Internal Rate of
Return ("IRR")
66.2%
Fe
C$
$470.7M
Pre-tax NPV of $1230.1M
8%
After-tax NPV 8% of $738.2M
Pre-tax IRR of 30.1%
After-tax IRR of 24.0%
69%
Fe
US$
$351.3M
Pre-tax NPV 8%
of $918.0M
After-tax NPV 8% of $550.9M
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