Champion Iron resumes full operational capacity
(Kitco News) - Champion Iron (TSX:CIA) announced Tuesday it had revenues of $311.0M and $555.6M for the three and six-month periods ended September 30, 2020, respectively, compared to $160.4M and $438.3M, respectively, for the same periods in 2019.
The Quebec-based iron miner's operations were curtailed earlier this year when COVID-19 restrictions were introduced.
"Operations at Bloom Lake resumed full operational capacity in the recently completed quarter, following the Government's announcement to categorize mining activities as a 'priority service' and the lifting of specific COVID-19 containment directives issued in the first quarter of the company's fiscal year ending March 31, 2021," said Champion Iron in a news release.
The company said it had introduced a wide range of health protocols to limit COVID-19 transmission.
Champion Iron said it has strong cash on hand balance of $425.8M as of the end of September.