Champion Minerals Inc.. (TSX:CHM,OTCQX:CPMNF,FWB:P02) announced it has signed a long-term agreement with the Sept-Îles Port Authority.
As quoted in the press release:
The Port Agreement has an initial term of 20 years, renewable for up to four additional 5-year terms. The Sept-Îles Port Authority has committed to complete its planned port facilities by March 31st, 2014, which is approximately eighteen months ahead of the planned production start-up date for Champion’s wholly-owned Fire Lake North Project. This agreement guarantees Champion ship-loading capacity at the Port of Sept-Iles for a minimum of 10 million tonnes of iron concentrate per year at preferential rates, using two ship loaders, each with a capacity of 8000 tonnes per hour. The Port Agreement also provides an opportunity to expand Champion’s reserved annual tonnage in the event of potential future expansions of iron concentrate production from Fire Lake North.