Australia's Champion Iron gains on $152 mln stake sale in Canada project

Sojitz

19/12/2024 24:54

** Shares of Champion Iron  CIA.AX  rise as much as 4.1% to
A$5.880, its biggest intraday gain since Dec. 10    
    ** Iron ore miner says Japanese firms Nippon Steel  5401.T 
and Sojitz  2768.T  will take up a 49% stake for A$245 million 
($152.22 million) in co's Kami project in Canada
    ** Co says it will retain operatorship of the project and
oversee potential developments and future operations
    ** CIA down 30% YTD

($1 = 1.6095 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com))