Champion Iron reports $404M quarterly revenues
Key points
- Quarterly results reached 3.9 million wmt production, 4.5 million dmt sales, $404 million in revenues, and $23 million in adjusted EBITDA.
- The announcement coincided with stock movement on the Australian Securities Exchange.
- Management is focusing on optimising assets, reducing costs, and expanding reach for direct reduction quality iron ore.
Champion Iron (ASX:CIA) reported quarterly production of 3.9 million wmt and revenues of $404 million for its second fiscal quarter ended Sept. 30.
The mining business delivered record consolidated sales of 4.5 million dmt while generating $23 million in adjusted EBITDA during the period.
"As we operate in challenging conditions and heightened volatility, we remain privileged to benefit from our teams’ commitment, the support of our host communities, and a strong network of financial partners who recognise the quality of our assets and the long-term value of our strategy," said Champion Iron CEO David Cataford.
Operational achievements included completing the initial commercial shipment of direct reduction quality iron ore from the DRPF project alongside securing additional test cargoes.
Following the announcement, the Champion Iron share price was down at $1.84.
The miner completed the acquisition of Rana Gruber AS on April 10 to expand its operational footprint.
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