CIA.ASX: Champion Iron completes the acquisition of Rana Gruber

Champion Iron completes the acquisition of Rana Gruber

Stock	Champion Iron Ltd (CIA.ASX)
Release Time	13 Apr 2026, 8:27 a.m.
Price Sensitive	Yes

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Champion Iron completes acquisition of Rana Gruber

Key Points

Acquisition strengthens Champion's leadership as a sustainable supplier of high-purity iron ore
Rana Gruber's proximity to European customers complements Bloom Lake's high-purity products
Transaction expected to have near-term accretive impact on Champion's revenue, EBITDA and cash flows

Full Summary

Champion Iron Limited (TSX: CIA, ASX: CIA, OTCQX: CIAFF) has completed the acquisition of Rana Gruber ASA, a leading Norwegian producer of high-purity iron ore, for a total consideration of approximately US$300 million. The acquisition marks a defining milestone for Champion, as the combined businesses will strengthen its leadership as a sustainable supplier of high-purity iron ore with a low-carbon footprint. Rana Gruber's proximity to European customers complements Bloom Lake's high-purity products and its Direct Reduction Pellet Feed project, currently in the commissioning phase. The transaction is expected to have a near-term accretive impact on Champion's revenue, EBITDA, and cash flows from operating activities. Champion will now focus on collaborating with the Rana Gruber team to maximize the opportunities created by the transaction while minimizing the potential impact for Rana Gruber's employees and the Mo I Rana community.

Guidance

The transaction is expected to have a near-term accretive impact on Champion's revenue, EBITDA, and cash flows from operating activities.