It is expected to require significant investments prior to re-commissioning, including structural work, rehabilitation and enhancement of existing equipment, to maximize productivity and energy efficiencies while minimizing its environmental impact, the company added.
Per the terms of the agreement, Champion will make a cash payment of C$2.5 million to Société Ferroviaire et Portuaire de Pointe-Noire S.E.C. (SFPPN). On top of the cash consideration, the SFPPN and the region also stand to receive additional economic benefits as Champion considers re-commissioning the pellet plant.
Additionally, Champion has signed a memorandum of understanding (MOU) with a major international steelmaker to to evaluate the re-commissioning of the pellet plant and produce direct reduction grade pellets.
The MOU sets out a framework for Champion and its partner to complete a feasibility study (FS), which is expected to be completed in 2023. Subject…
