FINWIRES · TerminalLIVE
FINWIRES

Champion Iron Produces Direct Reduction Quality Iron Ore From Canada Project

By

Champion Iron (ASX:CIA) produced direct reduction quality iron ore from its direct reduction pellet feed project at the Bloom Lake mine in Canada, according to a Monday filing with the Australian bourse.

A maiden commercial sale of a Capesize vessel, containing at least 160,000 wet metric tonnes, is anticipated in the third quarter, the filing said.

The project is expected to increase in capacity gradually to achieve full commercial production toward the end of the current financial year, per the filing.

Shares rose 2% in morning trade on Monday.

Related Articles

Asia

Media Reports: Small Aircraft Hits Citic Tower, Beijing's Tallest Skyscraper

Shanghai Composite^SZSE
Asia

China's Central Bank Plans Overnight Reverse Repo in End-June

The People's Bank of China will increase the overnight reverse repurchase operation in its open market operations on June 29 and June 30.The operation will adopt a fixed interest rate and quantity bidding, according to a Thursday statement.The new rate will be an addition to the PBOC's regular seven-day reverse repo rate, currently at 1.4%, which has served as the main policy benchmark since 2024, Bloomberg reported.Standard Chartered's Becky Liu said the move is a major step toward aligning with U.S. policy rate structures, according to the report. She added that the overnight reverse repo rate is the figure to watch and anything at 1.25% or below would amount to a de facto PBOC rate cut.

Shanghai Composite^SZSE
Asia

Hong Leong Bank Sells 640 Million Ringgit Bonds

Hong Leong Bank (KLSE:HLBANK) issued 640 million ringgit of bonds divided into two tranches, according to a Friday Malaysian bourse filing.The issue comprised 350 million ringgit of 10-year bonds carrying an interest rate of 3.9% per annum, and 290 million ringgit of 12-year bonds carrying a 4% interest rate.The call dates for the two tranches will be June 26, 2031, and June 27, 2033, respectively.The bonds were issued under the lender's multi-currency tier 2 subordinated bond program.

KLSE:HLBANK