Northland Finalizes the Financing for its Mobile Mining Equipment
LUXEMBOURG, LUXEMBOURG -- (Marketwire) -- 07/06/12 -- Northland Resources S.A. (TSX: NAU)(FRANKFURT: NPK)(OSE: NAUR) ("Northland" or "the Company"), announces that it has finalized the financing of its mobile mining equipment from Caterpillar.
Pon Equipment will deliver 23 Caterpillar machines including two large Cat 6060 hydraulic shovels, Cat 793F haul trucks, large Cat 994F wheel loaders, graders and dozers. Caterpillar Financial Nordic Services AB will provide financial leases for all 23 machines to a combined amount of USD 65 million.
The first machines were delivered to the Kaunisvaara site in mid-June.
Northland intends to begin production during the fourth quarter 2012 and is scheduled to deliver its high quality iron ore concentrate to the market in the first quarter of 2013.
Karl-Axel Waplan, President & CEO
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 initially exploit two magnetite iron ore deposits in Sweden. The process will yield a high-grade, high-quality magnetite iron concentrate. The construction of the Kaunisvaara project in Sweden is well underway and mining is planned to start in the fourth quarter of 2012. Northland has entered into off-take contracts for the entire production from Kaunisvaara. The Company is also preparing a Definitive Feasibility Study ("DFS") for its Hannukainen Iron Oxide Copper Gold ("IOCG") Project in Kolari, northern Finland and for its Pellivuoma deposit 15 km from the Kaunisvaara process plant.
Caterpillar is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company also is a leading services provider through Caterpillar Financial Services, Caterpillar Remanufacturing Services, Caterpillar Logistics Services and Progress Rail Services. Learn more at www.cat.com.
Contacts:
Northland Resources S.A.
Karl-Axel Waplan
President and CEO
+46 705 104 239
Northland Resources S.A.
Anders Antonsson
Vice President Investor Relations
+46 709 994 970
Northland Resources S.A.
Marguerite Manshreck-Head
Investors Relations, Canada
+1 647 224 7882
www.northland.eu