Press release from Companies
Publicerat: 2018-10-22 08:00:00
22 October 2018 Beowulf Mining plc (“Beowulf” or the “Company”) Beowulf (AIM: BEM; Spotlight: BEO), the mineral exploration and development company, focused on the Kallak magnetite iron ore project and the Åtvidaberg polymetallic exploration licence in Sweden, and its graphite portfolio in Finland, is pleased to announce that it has published in Swedish the Copenhagen Economics study that was completed in September 2017, and titled ‘Kallak – A real asset, and a real opportunity to transform Jokkmokk’ (the “Project”). Highlights of the Project: A presentation by Copenhagen Economics on the Project can be found on the Company’s website: Kurt Budge, CEO, commented: “We have published the Copenhagen Economics Study in Swedish, to help the widest possible audience recognise the transformational economic opportunity that Kallak means for Jokkmokk. “Last week, I was in Jokkmokk and Stockholm. We continue to have strong support from Jokkmokk municipality, the Mayor and the Social Democrat party. I met with other political parties and discussed with them our SEK 77 million investment in Kallak, and, despite the unacceptable delays to a decision on our application, our unwavering commitment to the project, to playing a constructive role in Jokkmokk, and to reaching out to all groups in the community in the spirit of cooperation and partnership. “There is recognition that the Kallak project offers a new future to Jokkmokk, and that there is no other sector of the economy that could deliver similar transformational economic benefits. A mine could be producing high quality iron ore concentrate for decades, bringing much needed jobs and tax revenues to the municipality and region; all described in detail in the Copenhagen Economics study. “Considering the positive economic and social effects of mining, it is great to see Kaunis Iron restart operations at the Kaunisvaara mine, bringing back much needed investment and jobs to the Pajala community. We read that the company is already dispatching ships from Narvik, loaded with high quality iron ore concentrate, to European customers. “Ironically, we have just had the third anniversary since October 2015, of the Mining Inspectorate recommending to the Government that the Exploitation Concession for Kallak be granted. As acknowledged by the Swedish authorities, the Company’s application has met all the requirements of the prescribed process for being granted an Exploitation Concession, the Swedish Minerals Act, the Environmental Code, and is compliant with Swedish law. “I have met many Swedish Members of Parliament, who respond with incredulity and embarrassment when I describe the handling of our application by the Swedish authorities. The Company remains positive that a new Government in Sweden will approve the Concession. “Kallak can showcase Sweden’s capabilities for developing modern, sustainable and innovative mining projects. It is an opportunity that Jokkmokk cannot afford to lose.” Enquiries:
Beowulf Mining plc
Kurt Budge, Chief Executive Officer
Tel: +44 (0) 20 3771 6993
SP Angel(Nominated Advisor & Broker)
Ewan Leggat / Soltan Tagiev
Tel: +44 (0) 20 3470 0470
Blytheweigh
Tim Blythe / Megan Ray
Tel: +44 (0) 20 7138 3204