Australia's Champion Iron surges on securing $179 million for Canada project

Sojitz

22/07/2025 01:55

** Shares of Champion Iron CIA.AX rise as much as 4.8% to A$5.050, their highest level since March 31

** Iron ore miner says Japan's Nippon Steel 5401.T and Sojitz Corp 2768.T will invest an initial C$245 million ($179.08 million) in its Kami iron ore project in Canada for an aggregate 49% interest

** Stock set for its fourth consecutive session of gains, if trend holds

** Stock currently up 3.3%, but down over 16% for the year

($1 = 1.3681 Canadian dollars)

(Reporting by Adwitiya Srivastava in Bengaluru)

((Adwitiya.Srivastava@thomsonreuters.com))