Northland Engages Forcit to Supply Explosives for Kaunisvaara
03.05.2011 | Globenewswire Europe
Luxembourg, May 3, 2011: Northland Resources S.A. (TSX: NAU, OSE: NAUR,Frankfurt: NPK - "Northland" or "the Company") is pleased to announce an
agreement with Forcit for the supply of explosives to the Kaunisvaara Iron Ore
Project. The ten-year agreement will ensure the timely delivery of the required
blasting agents, which use the latest explosive technology.
"The duration of our order, combined with the volumes, makes it one of the
largest within the Swedish mining industry," says Peter Pernlöf, Vice President,
Procurement and Energy. "Forcit has the necessary expertise and capacity to
supply explosives in a cost efficient manner. The fact that the Company is
established close to Kaunisvaara is important for our cooperation."
The Kaunisvaara Iron Ore Project is located in Northern Sweden, approximately
100 km north of the Arctic Circle, in the municipality of Pajala. After
completion, the annual capacity of the process plant will be 12 million tons of
dry iron ore and 5 million tons of iron ore concentrate.
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 magnetite iron ore deposits, feeding a single, multi-line processing
facility in Sweden. The process yields a very high-grade, high-quality magnetite
iron concentrate. The Company is also preparing a Definitive Feasibility Study
for the Hannukainen Iron Ore Copper Gold Project in northern Finland.
Forcit was founded as Finska Forcit-Dynamit Aktieblaget in 1893, in Hanko
(Finland). Forcit's turnover in 2010 was approximately EUR 70 million. For more
information on Forcit, please visit www.forcit.fi.
On behalf of the Board
"Karl-Axel Waplan"
President and CEO
Northland Resources S.A.
For more information, please contact:
Karl-Axel Waplan, President and CEO: 46 705 104 239
Marguerite Manshreck-Head, Investors Relations, Canada: 1 647 224 7882
Anders Antonsson, Vice President Investor Relations: 46 709 994 970
Or visit our website: www.northland.eu
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
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Source: Northland Resources S.A. via Thomson Reuters ONE
[HUG#1511704]
Unternehmen: Northland Resources S.A. - ISIN: LU0488722801