Champion Iron Inc.

Champion Iron Inc. is a mid-tier iron producer headquartered in Rozelle, Australia, operating primarily in Canada. The company's portfolio consists of 2 projects, comprising 1 operating mine and 1 development project, in addition to several early-stage exploration prospects. Key assets include Bloom Lake and Kami. The business model centers on the production and global distribution of high-grade, low-contaminant concentrate for advanced industrial processes. Operational characteristics include an open-pit mining approach with multiple concentration plants, leveraging renewable hydroelectric power to minimize its carbon footprint. The enterprise acquired its primary operating complex in 2016, subsequently restarting and significantly improving operations through substantial capital investment and operational excellence initiatives. A key technological advantage is the ongoing investment to upgrade half of its production capacity to a direct reduction quality pellet feed, positioning the company to meet rising demand from lower-emission industrial applications. The integrated logistics chain, encompassing rail transport and dedicated port facilities, enables efficient delivery to a global customer base. Competitive positioning is derived from its access to high-purity resources, allowing for the production of premium products that command higher value in specialized markets. The operational approach emphasizes continuous improvement and optimization to enhance recovery rates and production stability.

Strategic priorities center on organic growth through the enhancement of existing facilities and the advancement of large-scale development projects. A core objective is to align the product portfolio with the decarbonization of the industrial sector by increasing the supply of high-purity inputs required for lower-emission production methods. The enterprise pursues this through initiatives like upgrading a portion of its current capacity to produce a direct reduction quality product, which is on track for commissioning in December 2025. Capital allocation is balanced between funding these growth projects and maintaining a consistent capital return strategy for shareholders, including dividend payments. To de-risk and fund major new developments, the organization forms strategic partnerships with established industry leaders, leveraging third-party capital and expertise while retaining operatorship and majority ownership. Long-term vision includes the evaluation of a portfolio of development properties to potentially support a broader industry transition and further increase its market scale. Research and development programs are focused on developing technologies and products that support the shift away from traditional production methods.

The board of directors is composed of 8 members, 6 of whom are independent, ensuring robust oversight. Governance is structured through specialized committees, including Audit; Remuneration, People, and Governance; and Sustainability and Indigenous Affairs, all comprised of independent directors. Executive leadership is led by a founder with a background as a metallurgist and an extensive history in senior roles at major global resource companies, and a chief executive officer with an engineering background who previously held management positions at other large mining firms and successfully steered the operational restart of the primary asset. The governance framework includes a formal securities ownership policy requiring senior executives and directors to maintain a significant equity stake, aligning their interests with those of shareholders. This framework balances dual-listing requirements with the need to maintain competitive compensation practices relevant to its operational jurisdiction. Management philosophy emphasizes a performance-driven culture and focuses on retaining key personnel with proven track records in project development and operational turnarounds.

The sustainability strategy is integrated into the corporate framework, with management compensation directly linked to achieving specific key performance measures. Environmental stewardship focuses on reducing the operational footprint through initiatives in energy efficiency and process electrification, supported by access to renewable hydroelectric power. The organization reports a high water reuse rate and has reduced its greenhouse gas emissions intensity per tonne of material mined. Social responsibility is demonstrated through a cultural immersion program designed to foster engagement with First Nations partners and through ongoing support for local communities via donations and sponsorships. The enterprise maintains a total recordable injury frequency rate that consistently outperforms the relevant industry average. Governance practices include dedicated board-level oversight of sustainability risks, regular policy reviews to align with industry standards, and public reporting based on established frameworks such as GRI, SASB, and TCFD. The entity also publishes a Modern Slavery Statement to address supply chain risks.

Operational activities are conducted through a wholly-owned subsidiary, which acquired the primary operating asset and related infrastructure in 2016 from its previous owners. A significant structural development occurred in December 2024, when the company entered into a binding agreement with Nippon Steel Corporation and Sojitz Corporation to form a joint partnership for the development of a major growth project. Under this agreement, the partners will acquire a 49% equity interest through capital contributions, while the company retains a 51% interest and operatorship, de-risking the project's advancement. The company also acquired another major development property in 2021. Major shareholders with holdings over 5% include institutional and strategic investors such as Investissement Québec, WC Strategic Opportunity LP, State Street Corporation, Blackrock Group, and Vanguard Group, providing a stable ownership base. The corporate structure reflects a history of strategic acquisitions and partnerships designed to expand its operational footprint and advance its development pipeline.