Québec Iron Ore to refinance with CDPQ, buys RQ stake for $211 mln
Québec Iron Ore Inc (QIO), an affiliate of Champion Iron Ltd (TSX: CIA), has struck a deal with Caisse de dépôt et placement du Québec (CDPQ) for a preferred share offering of $185 million. The proceeds of the offering and a US$200 million credit facility will be used for strategic initiatives and to refinance outstanding credit facilities. QIO, operator of Québec's Bloom Lake Mining Complex, also concluded an agreement to acquire Ressources Québec (RQ)'s 36.8 percent stake in QIO for $211 million. The deal increases Champion's ownership to 100 percent. Champion, an Australian mining company, acquired the Bloom Lake iron ore project in 2016.
29 May 2019•6 mins read
