Ashurst advises Champion Iron on C$53.3m acquisition
Ashurst has advised Champion Iron Limited (Champion) (listed on ASX and TSX) on the acquisition of Bloom Lake Mine and acquisition financing by way of private placement.
Champion acquired the following assets from Cliffs Quebec Iron Mining and affiliated entities (Cliffs):
* Bloom Lake Mine - all mine site infrastructure and mining equipment and processing facility at the 'Bloom Lake Mine'
* Rail Assets - a 36km short-line railway that connects the Bloom Lake Mine to the Northern Land Company railway; and