Northland receives construction permit for Narvik iron ore terminal

Northland Resources S.A. announce that the Narvik Muni­cipality Planning Committee has granted the Company a construction permit for the iron ore terminal at Fagernes in Narvik/Norway. In August 2011, Northland signed an agreement with the Port of Narvik for the lease of the area necessary for the operation of an iron ore terminal, south of the city of Narvik. The terminal, which is expected to efficiently load vessels of up to 180 000 t, will consist of a quay, an unloading facility for the railcars, a storage building and a ship loader. Northland is a development-stage mining company with a portfolio of iron ore projects in northern Sweden and Finland. The Company‘s Kaunisvaara Project will exploit two magnetite iron ore deposits in Sweden. The process will yield a very high-grade, high-quality magnetite iron concentrate. The construction of the Kaunisvaara project is well underway (Fig.) and production is planned to start in the fourth quarter of 2012. Northland has entered into industrial off-take contracts which will last for 7 to 10 years for the entire production from Kaunisvaara. The Company is also preparing a Definitive Feasibility Study for the Hannukainen Iron Oxide Copper Gold Project in Kolari, northern Finland. The results of the study are expected to be released in the first quarter of 2012.

 

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