On December 18, 2024, Champion Iron Limited partnered with Nippon Steel Corporation and Sojitz Corporation to jointly develop the Kami Iron Ore Project in Labrador, Canada. The Partners committed $245 million for a 49% stake, with Champion retaining 51% ownership and operatorship. Nippon and Sojitz will hold 30% and 19% interests, respectively. The transaction included $68.6 million at closing and $176.4 million after the completion of a definitive feasibility study by mid-2026.

McCarthy Tétrault advised Champion, with a team led by Louis-Nicolas Boulanger, including Konstantin A. Sobolevski, Brianna Bernhardt (Business), and Dominic Thérien (Competition). The partnership aims to finalize agreements and permitting by 2025.