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Champion Iron proposes to re-domicile to Canada from Australia

Champion Iron Ltd.'s board recommended a re-domicile to Canada from Australia to align its location with its assets, operations and predominant shareholder base.

The company will retain its listing on the Toronto Stock Exchange and the ASX, and there will be no change in its operations, management or strategy, it said Jan. 6.

If shareholders approve the move, Champion Canada will acquire all the ordinary shares of Champion Australia and replace it as the listed entity on the exchanges.

In August 2019, Champion Iron closed its purchase of Ressources Québec Inc.'s 36.8% stake in Quebec Iron for C$211 million, increasing its stake in the Bloom Lake iron ore mine in Quebec to 100%.