Champion Iron (ASX:CIA) said a machine breakdown at its load-out facility in Quebec, Canada temporarily impacted iron ore concentrate sales, according to a Wednesday filing with the Australian bourse.
A piece of machinery at the facility broke down on Dec. 3, requiring an extended repair time, the filing said. The mining firm is advancing repair works on the facility that loads iron ore concentrates into rail cars at the Bloom Lake mine.
Mining operations are unaffected by the issue, with mined iron ores being stockpiled at the mine, the filing said, adding that the company is "confident" that regular shipping activities will start in the next few days once the matter is resolved.
The company's shares fell past 1% in recent Wednesday trade.
Price (AUD): $6.22, Change: $-0.09, Percent Change: -1.35%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.