8th Jul 2019 15:09
(Alliance News) - Beowulf Mining PLC on Monday laid out its three step plan for the Kallak North magnetite iron ore project in Sweden in the event of approval.
The Nordic-focused miner has been in a protracted fight to get permission for Kallak. However, if its succeeds, Beowulf's first step will be to complete a scoping study of Kallak within 12 months of being awarded the concession. The study will look into logistics and transport, as well as market opportunities for Kallak.
The second step is to form a 'development taskforce' with key partners such as Jokkmokks Kommun to "coordinate the activities of interested parties in Kallak, such that project development of Kallak and the development of Jokkmokk can be fully coordinated".
Step three for Beowulf would be to talk further with the Sami reindeer herding communities in Sweden "to listen to their concerns, find solutions together to problems that might exist, working towards reaching mutually beneficial agreements that ensure Sami reindeer herding, livelihoods, and culture are protected, and that Sami communities benefit from the development of a mine at Kallak".
The three step plan was detailed by Chief Executive Kurt Budge at the Almedalen Political Week in Sweden, which is a meeting of businesses, government and non-governmental agencies, and those involved in politics.
Budge said: "This year, in response to a number of queries, I have been presenting the company's plans should the concession be granted, against the backdrop of iron ore prices reaching five year highs during the last week. From a technical perspective, the completion of a scoping study, and from a societal perspective, the creation of formal partnerships and agreements with Jokkmokks Kommun and Sami reindeer herding communities."
He added: "The company has done the work required to be granted a concession. We hope that the government is satisfied that is the case, and that the patience shown by our supporters in Jokkmokk and Norrbotten, and our 62% Swedish and 38% UK long-standing individual shareholders is rewarded."
SHares in Beowulf were up 1.1% at 6.70 pence on Monday afternoon.
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