Kami

What Kami does

Kami is a high-purity iron ore mining project in the pre-construction development stage, located southwest of Wabush and Labrador City in the Labrador Trough, Newfoundland and Labrador, Canada. The project is being advanced by the Kami Iron Mine Partnership, a joint venture entity in which Champion Iron Limited, through its wholly-owned subsidiary Quebec Iron Ore Inc., retains 51% as operator, while Nippon Steel Corporation and Sojitz Corporation collectively hold 49% following a $245 million definitive framework agreement executed on July 21, 2025. Kami is designed to produce 9 million wet tonnes per annum of Direct Reduction grade iron ore pellet feed at greater than 67.5% Fe purity over a 25-year life of mine, with an estimated investment of $3.9 billion per the March 2024 Pre-Feasibility Study. The Definitive Feasibility Study is targeted for completion in late calendar year 2026, and an Environmental Impact Statement was submitted to the Government of Newfoundland and Labrador in July 2025.

The project serves the green steel supply chain, supplying high-purity feedstock for Direct Reduced Iron production used in Electric Arc Furnace steelmaking, a segment where demand is projected to rise by approximately 355% by 2050 as the steel industry seeks to decarbonize from its current ~10% share of global CO2 emissions. Core technology encompasses mining operations, a concentrator, a tailings management facility, and environmental management features including a dome over stockpiles to reduce dust emissions. The product is classified as a critical mineral by the Government of Canada (June 2024) and the governments of Newfoundland and Labrador and Quebec.

Kami has not yet reached final investment decision and is therefore pre-revenue. Its business model centers on the commodity sale of high-purity iron ore concentrate priced against benchmarks such as the P62 index, with Nippon Steel and Sojitz positioned as both joint venture partners and intended anchor off-take customers. Revenue mechanics will activate only after FID, environmental approvals, and construction are complete, making the Definitive Feasibility Study, regulatory milestones, and final investment decision the critical value-creation catalysts for the project.

Name

Kami

Legal name

Kami Iron Mine Partnership

Website

https://kami.ca

Company type

Private

Founded year

2021

Operating status

Operating

Short description

Kami is a pre-construction high-purity iron ore mining project in the Labrador Trough, Canada, being developed as a joint venture between Champion Iron (51%) and Nippon Steel and Sojitz (49%) to produce 9 million wet tonnes annually of DR-grade pellet feed for the green steel supply chain.

Ownership category

akta.pro rank

Product category

Iron Ore Mining

NAICS

Iron Ore Mining (212210)

SIC

Metal Mining (1000)

akta.pro primary industry

Iron Ore Mine Development & Expansion (EPC, Construction, Commissioning) (IMAKAAAB)

akta.pro secondary industries

Iron Ore Mining Operations (Open-Pit & Underground) (IMAKAAAC), Iron Ore Pelletizing & Agglomeration (Pellets, Sinter Feed, Lump) (IMAKAAAE)

Keywords

• Iron ore mining
• DR-grade pellet feed
• High-purity iron ore
• Green steel feedstock
• Mining project development

Headquarters

HQ city

Wabush

HQ country

Canada

HQ region

North America

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Infrastructure, Personnel, Operations, Technology or R&D, Supply Chain

Revenue model

1. Iron Ore Sales: The Kami Project will generate revenue through the sale of high-purity Direct Reduction (DR) grade iron ore pellet feed. The project is expected to produce 9 million wet tonnes annually. Revenue is secured through strategic partnerships with major steelmakers Nippon Steel and Sojitz, who have invested in the project and will likely be off-take partners.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Kami is a high-purity iron ore mining project designed to produce approximately 9 million wet tonnes per year of Direct Reduction (DR) grade iron ore pellet feed at greater than 67.5% Fe purity over a 25-year mine life. The project includes mining operations, a concentrator, and a tailings management facility located in the Labrador Trough. The product serves the green steel supply chain by providing feedstock for Direct Reduced Iron (DRI) production used in Electric Arc Furnace steelmaking.

Product overview

Kami is a high-purity iron ore mining project focused on producing direct reduction (DR) grade iron ore pellet feed. The project operates as a joint venture between Champion Iron Limited (operator), Nippon Steel Corporation, and Sojitz Corporation through the Kami Iron Mine Partnership. The core offering is high-purity iron ore concentrate (>67.5% Fe) designed for the green steel supply chain, with estimated annual production of 9 million wet tonnes over a 25-year mine life.

Differentiator

Problem solved

Functional benefit

Products and services

• Kami Iron Ore Mine Project A high-purity iron ore mining project located in the Labrador Trough, southwest of Wabush and Labrador City, Newfoundland and Labrador. The project is designed to produce 9 million wet tonnes of direct reduction (DR) grade iron ore pellet feed at greater than 67.5% Fe purity annually, with a projected 25-year life of mine. It is intended for global steel manufacturers serving the green steel supply chain.
• High-Purity Iron Ore Concentrate (DR-Grade Pellet Feed) Premium-quality iron ore concentrate with greater than 67.5% Fe purity, classified as direct reduction (DR) grade pellet feed material. The product is designed for steel manufacturers transitioning to greener steelmaking methods, including Direct Reduced Iron (DRI) feedstock for Electric Arc Furnace (EAF) steelmaking.

Quantifiable outcome

• 355% increase in DRI demand expected by 2050
• +2 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eight partnerships are on record, tiered core and key stakeholder.

• Nippon Steel CorporationcoreStrategic or Co-development Partner · 18 December 2024Nippon Steel is one of the world's leading steelmakers and Japan's largest steelmaker with global crude steel production capacity of approximately 86 million tonnes and approximately 136,000 employees. In December 2024, Champion announced a binding agreement for Nippon Steel and Sojitz to form a partnership for joint ownership and development of the Kami Project. Subsequently on July 21, 2025, Champion entered into a definitive framework agreement where Partners agreed to initially contribute $245 million for an aggregate 49% interest in Kami Iron Mine Partnership. Nippon Steel has been an active customer of Champion since the recommissioning of Bloom Lake mine in 2018.
• Sojitz CorporationcoreStrategic or Co-development Partner · 18 December 2024Sojitz is a Japanese global trading company formed from the union of Nichimen Corporation and Nissho Iwai Corporation with approximately 160 years of history. The Sojitz group consists of approximately 400 subsidiaries and affiliates located in Japan and throughout the world. Sojitz has acted as a marketing partner for Champion since the recommissioning of the Bloom Lake mine in 2018. On July 21, 2025, Sojitz entered into a definitive framework agreement with Champion and Nippon Steel, contributing $245 million for 49% interest in Kami Iron Mine Partnership.
• Champion Iron LimitedcoreStrategic or Co-development Partner · 1 January 2021Champion Iron Limited acquired the Kami Project in 2021 and has since made several changes to the Project design to optimize environmental performance and engaged with local stakeholders. Champion, through its wholly-owned subsidiary Quebec Iron Ore Inc., owns and operates the Bloom Lake Mining Complex. Champion holds 51% interest in Kami Iron Mine Partnership following the partnership with Nippon Steel and Sojitz.
• Uashat mak Mani-Utenamkey stakeholderOthersOne of five Indigenous communities consulted as part of the Kami Project's environmental and community engagement process.
• Matimekush-Lake-Johnkey stakeholderOthersOne of five Indigenous communities consulted as part of the Kami Project's environmental and community engagement process.
• Innu Nationkey stakeholderOthersOne of five Indigenous communities consulted as part of the Kami Project's environmental and community engagement process.
• Naskapi Nation of Kawawachikamachkey stakeholderOthersOne of five Indigenous communities consulted as part of the Kami Project's environmental and community engagement process.
• NunatuKavut Community Councilkey stakeholderOthersOne of five Indigenous communities consulted as part of the Kami Project's environmental and community engagement process.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Rio Tinto Group: Rio Tinto operates Iron Ore Company of Canada in Labrador City (adjacent to Kami) and Pilbara mines, and has launched high-grade DR-grade products. Directly comparable geography and product mix.
• Vale S.A. Vale is the world's largest iron ore producer and operates Carajás, the premier high-purity iron ore mine supplying DR-grade pellet feed globally. Comparable as a major iron ore miner with DR-grade exposure serving global steelmakers.
• Cleveland-Cliffs Inc. Cleveland-Cliffs is the largest flat-rolled steel producer in North America and an integrated iron ore miner supplying its own blast furnace and emerging DR/EAF steelmaking operations.
• Anglo American plc: Anglo American operates Kumba Iron Ore in South Africa and the Minas-Rio iron ore mine in Brazil, both supplying high-grade feed including DR-grade products to global steel markets.
• ArcelorMittal S.A. ArcelorMittal operates captive iron ore mines in Canada, Liberia, Mexico and elsewhere, and is a major customer and potential competitor in DR-grade supply chains serving its own EAF/DRI steelmaking ambitions.
• BHP Group: BHP's Western Australia Iron Ore operations produce high-grade products including Brockman and Yandi fines, with growing exposure to DR-grade markets. A major incumbent peer supplying global steelmakers.

Emerging players

• LKAB (Luossavaara-Kiirunavaara AB): Swedish state-owned miner LKAB is Europe's largest iron ore producer and a leading supplier of high-purity DR-grade pellets for green steel. Directly comparable as a DR-grade-focused producer in the decarbonization supply chain.
• Alderon Iron Ore Corp. Alderon is developing the Kamistiatusset (Kami) ... wait — Alderon holds the adjacent Kami-style iron ore claims in Labrador Trough, providing a regional development-stage peer for high-purity iron ore projects in the same basin.

Regional players

• Labrador Iron Ore Royalty Corporation: LIORC holds royalty interests in Iron Ore Company of Canada operations in Labrador City — directly adjacent to Kami and sharing the same Labrador Trough geology, customer base, and infrastructure corridor.

Direct peers

• Champion Iron Limited: Champion Iron is Kami's 51% owner and operator, and runs the Bloom Lake Mining Complex in the same Labrador Trough producing DR-grade iron ore concentrate. It is the most directly comparable operator given shared infrastructure, geology, customer base, and product.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/kamiminingproject
• LinkedInlinkedin.com/company/kami-mining-project

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kami