Miner thinks small to resurrect big Canadian iron ore mine

By Susan Taylor TORONTO, May 24 (Reuters) - Champion Iron Ltd is thinking small with its plans to bring Quebec's giant Bloom Lake iron ore mine back to life. Chief Executive Michael O'Keeffe intends to slash costs while cutting millions of tonnes from a planned production expansion. The strategy runs counter to the traditional economy of scale formula, which bumps up production for proportional cost savings. It may prove a prescient approach as iron ore prices