Miner thinks small to resurrect big Canadian iron ore mine: Reuters

Champion Iron Ltd is thinking small with its plans to bring Québec's giant Bloom Lake iron ore mine back to life, Reuters reported. CEO Michael O'Keeffe intends to slash costs while cutting millions of tonnes from a planned production expansion. The strategy runs counter to the traditional economy of scale formula, which bumps up production for proportional cost savings. U.S. private equity firms Wynnchurch Capital and Resource Capital Funds invested $30 million in Champion last year.

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