Champion Iron Limited reported its fiscal fourth quarter results for FY2025, showcasing strong financial performance amid operational challenges. The mining company produced 3.2 million wet metric tonnes (wmt) of high-grade iron ore concentrate and achieved record quarterly sales of 3.5 million dry metric tonnes (dmt), generating revenue of C$425 million and EBITDA of C$127 million. Despite a 13% quarter-over-quarter production drop due mainly to scheduled semi-annual plant shutdowns, sales increased year-over-year by 18%, aided by the commissioning of additional rail equipment that helped lower Bloom Lake’s stockpile by 341,000 wmt. On the operational front, Champion Iron Limited continues to advance its DRPF project, which aims to upgrade half of Bloom Lake’s capacity to produce higher-grade direct reduction quality ore. The project is progressing on schedule, with additional investments of C$52 million this quarter and total cumulative investments approaching C$340 million; commissioning is expected by December 2025. The Company has also entered a binding agreement with Nippon Steel Corporation and Sojitz Corporation to jointly develop the Kami Project, with further feasibility studies targeted for completion by the end of 2026. Financial results reflect improvements across key metrics. The gross average realized selling price was US$111.8 per dmt, while the net average selling price increased to US$84.9 per dmt, buoyed by several positive pricing adjustments and lower freight costs. However, the reported C1 cash cost of US$80 per dmt and an increase in all-in sustaining cost to US$93.1 per dmt underline pressures from higher mining and processing expenses, partly due to geological challenges impacting grinding circuits and a necessary ramp-up in stripping activities. The company’s cash balance increased to C$117.5 million, with total available liquidity reaching C$605.9 million, providing a solid base for future growth and operational investments. The announcement also confirmed the declaration of the eighth consecutive semi-annual dividend of C$0.10 per ordinary share, reflecting the management’s commitment to returning value to shareholders. Safety and sustainability measures remain a priority, with the quarter marked by the absence of major environmental incidents and progress in meeting established sustainability targets. Bullish sentiment is supported by record sales volume, significant improvements in EBITDA and net income, and robust liquidity, all of which signal a solid operational framework to support future growth—including the strategic DRPF upgrade and Kami Project partnership. On the other hand, bearish factors include the scheduled shutdowns affecting production levels, ongoing challenges related to ore hardness impacting recovery rates, and rising processing costs, which may dampen margins in the near term.