Champion Iron reported net income of CAD$65.0 million, equivalent to earnings per share of CAD$0.12, compared to net income of CAD$56.8 million, with earnings per share of CAD$0.11 in
Champion Iron's DRPF project, aimed at upgrading half of Bloom Lake's capacity to convert iron ore into DR quality pellets with an iron content of up to 69 percent, was progressing according to plan: mechanical devices were put into operation, and the first commercial shipments of DR quality iron are expected to begin by the end of the quarter. in the first half of the 2026 calendar year, and then gradually increases. Quarterly production of 3.7 million tons of high-grade 66.5 percent Fe concentrate for the three-month period ended December 31, 2025, compared with 3.6 million tons of high-grade 66.3 percent iron concentrate for the same period in 2024. The company had record quarterly sales of 3.9 million t/t for the three-month period ended December 31 December 2025, which is 18% more than in the same period.
Champion Iron's total reserves of iron ore concentrate at the Bloom Lake deposits and the port of September Ile amounted to 1.5 million tons by weight as of December 31, 2025, compared with 1.8 million tons by weight as of September 30, 2025, and the company demonstrated high mining performance of 22.6 million tons. tons of material extracted and transported to Bloom Lake during the three-month period ended December 31, 2025, an increase of 13 percent compared to the same period in 2024, due to additional and improved use of loading equipment, as well as the availability of dump trucks.
Despite the breakdown of the port operator's ship loaders at the end of December 2025, sales increased by 18 percent over the three-month period. ended on December 31, 2025 compared to the same period in 2024 and exceeded production for the fourth consecutive quarter.
Mr. David Kataford, CEO of Champion, stated: "I am proud of the ingenuity and perseverance of our team as we advance strategic initiatives aimed at unlocking value for our stakeholders in the coming months and strengthening our leadership in the high purity iron ore industry. We expect to continue to benefit from the sale of high purity iron ore reserves previously stored at Bloom Lake. New markets will be available when we start shipping.
