MONTRÉAL, Sept. 29, 2025 /CNW/ - SYDNEY, September 30, 2025 - Champion Iron Limited (TSX:CIA.TO) (ASX:CIA) (OTCQX:CIAFF) ("Champion" or the "Company") announces that it has completed the initial closing (the "Initial Closing") of the transactions contemplated by the previously announced framework agreement dated as of July 21, 2025, Montréal time (the "Framework Agreement") with Nippon Steel Corporation ("Nippon Steel") and Sojitz Corporation ("Sojitz", and collectively with Nippon Steel, the "Partners"). In connection with the Initial Closing, the Partners made their initial cash contributions in an aggregate amount of $68.6 million to Kami Iron Mine Partnership (the "Partnership"), a new entity formed for the ownership and potential development of the Kamistiatusset iron ore project (the "Kami Project" or the "Project"). Following the Initial Closing, Champion holds a 51% equity interest in the Partnership and Nippon Steel and Sojitz hold minority positions of 30% and 19%, respectively.
Read more at newswire.caCHAMPION IRON FORMS A PARTNERSHIP FOR THE KAMI PROJECT WITH NIPPON STEEL AND SOJITZ
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