Champion Iron faces first strike on remuneration report at AGM

Champion Iron Limited (ASX:CIA) held its Annual General Meeting on August 28, 2025 (Sydney time) / August 27, 2025 (Montréal time), with all nine resolutions passing by poll. Resolution 1, the approval of the remuneration report, passed as an ordinary resolution but constitutes a "first strike" under section 250U of the Corporations Act 2001 (Cth) due to more than 25% of votes cast against it.

Other resolutions included the re-election of all nine directors: Michael O’Keeffe, David Cataford, Gary Lawler, Michelle Cormier, Louise Grondin, Jessica McDonald, Jyothish George, and Ronnie Beevor. The total number of ordinary shares represented in person or by proxy at the meeting was 415,182,730, accounting for approximately 77.86% of the ordinary shares on issue.

Champion Iron continues to operate its Bloom Lake Mining Complex in Québec and is investing to upgrade half of its mine capacity to produce direct reduction quality pellet feed iron ore. The company also announced a definitive framework agreement with Nippon Steel Corporation and Sojitz Corporation on July 21, 2025, to form a partnership for the shared ownership and potential development of the Kami Project.