05:04 PM EST, 12/10/2024 (MT Newswires) -- Champion Iron ( CIAFF ) after close of trade Tuesday said the rail-loading facility at its Bloom Lake mine has been closed since Dec.3 due to an equipment failure.

The company said the shutdown was due to "a breakage ... to a machinery required to load iron ore concentrate to rail cars".

Champion said it quickly identified the issue but repairs are taking longer than expected, preventing it from shipping iron ore to a port at Sept-Iles, Quebec.

It said it expects to complete repairs "in coming days". Its Bloom Lake operations are unaffected by the issue and it is stockpiling ore at the mine. It did not say if it expects any impact to earnings.

The company's shares closed down $0.12 to $5.57 on the Toronto Stock Exchange.