DGAP-News: Champion Iron Appoints Director of Project Finance, Europe
(firmenpresse) - DGAP-News: Champion Iron Mines Limited / Key word(s): Change of
Personnel
Champion Iron Appoints Director of Project Finance, Europe
12.10.2012 / 13:10
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NEWS RELEASE
Champion Iron Appoints Director of Project Finance, Europe
Toronto (Canada), October 12, 2012 - CHAMPION IRON MINES LIMITED (TSX: CHM;
OTCQX:CPMNF; FSE: P02) ('Champion' or the 'Company') is pleased to announce
that Mr. Beat Frei has been appointed the Company's Director of Project
Finance, Europe. Throughout his career Mr. Frei successfully executed
mandates in various areas including corporate and infrastructure/project
finance. Mr. Frei will be based in Switzerland.
Prior to commencing his role as a financial advisor in the commodities
field in 2000, Mr. Frei worked for more than 20 years in various positions
at Credit Suisse/CSFB (Vice President) and as a Director of UBS AG. More
recently, Mr. Frei contributed significantly to the upgrade of several
steel and metal plants in the Middle East and CIS countries, was Finance
Director of Klöckner&Co., Germany (a leading steel distribution company),
was engaged by global steel traders such as Duferco SA, Switzerland and
Balli Group, UK and advised SMS Demag AG, Germany (a leading equipment
maker for the steel industry). Furthermore, Mr. Frei held the position of
CFO with OOO Enisey, a mid-size Russian oil company which transformed into
an integrated oil company by building the world's most northerly-located
refinery in Usinsk. Significantly, projects which were completed and
advanced with Mr. Frei's input had a value of more than US $2 billion and
were mainly financed with debt instruments.
Thomas Larsen, Champion's President and C.E.O. stated, 'We are very pleased
to have Beat join our team. His global experience as a financial advisor to
both steel companies and other resource commodities-based industrial
corporations will benefit Champion greatly as we complete the Feasibility
Study at the Company's wholly-owned Consolidated Fire Lake North Project
and continue with its development. Champion is pursuing a strategy of not
only focusing on building alliances with Asian based end users but also
targeting customers that are more proximal, such as those in Europe and the
United States. Fire Lake North's high quality hematite sinter feed combined
with the very high ratio of silica to alumina at 10:1 positions Champion as
one of the few potential iron ore suppliers that can attract steel mills
who produce premium products with the advantage of cheaper seaborne
shipping rates.'
About Champion Iron Mines Limited
Champion is an iron exploration and development company with offices in
Montreal and Toronto, and is focused on developing its significant iron
resources in the provinces of Quebec and Newfoundland&Labrador. Champion
holds a 100% interest in the Fermont Iron Holdings and a 44% interest in
the Attikamagen Iron Project located in both Quebec and Labrador. The
Attikamagen Project is under option to Labec Century Iron Ore Inc.
('Labec'), a subsidiary of Century Iron Mines Corporation, under which
Labec can earn up to a 60% interest.
Champion's Fermont Iron Holdings, including its flagship Fire Lake North
Project, are located in Canada's major iron ore producing district, in
close proximity to five producing iron mines. Fire Lake North is located
immediately adjacent to and north of ArcelorMittal's operating Fire Lake
Mine and 60 km south of Cliffs Natural Resources Inc.'s Bloom Lake Mine in
northeastern Quebec. Champion's team and advisory board includes mining and
exploration professionals with the mine operations experience to build the
Fire Lake North Project into a producing mine.
For further information please contact::
Thomas G. Larsen, President and CEO, or Jorge Estepa, Vice President at
Tel: (416) 866-2200.
For additional information on Champion, please visit our website at
www.championironmines.com.
This news release includes certain information that may constitute
'forward-looking information' under applicable Canadian securities
legislation. Forward-looking information includes, but is not limited to,
statements about planned operations at the Company's projects, including
its Fire Lake North Project. Forward-looking information is necessarily
based upon a number of estimates and assumptions that, while considered
reasonable, are subject to known and unknown risks, uncertainties, and
other factors which may cause the actual results and future events to
differ materially from those expressed or implied by such forward-looking
information, including the risks identified in Champion's annual
information forms, management discussion and analysis and other securities
regulatory filings by Champion on SEDAR (including under the heading 'Risk
Factors' therein). There can be no assurance that such information will
prove to be accurate, as actual results and future events could differ
materially from those anticipated in such forward-looking information.
Accordingly, readers should not place undue reliance on forward-looking
information. All forward-looking information contained in this press
release is given as of the date hereof and is based upon the opinions and
estimates of Champion's management and information available to management
as at the date hereof. Champion disclaims any intention or obligation to
update or revise any forward-looking information, whether as a result of
new information, future events or otherwise, except as required by law.
This press release has been prepared by Champion Iron Mines Limited and no
regulatory authority has approved or disapproved the information contained
herein.
End of Corporate News
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188606 12.10.2012
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