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Vision

Nordic Iron will become a major European producer of ultra-high-grade iron ore concentrate and apatite concentrate, containing phosphorus and rare earth elements, for markets transitioning to a green economy.

Business concept

Nordic Iron’s business concept is to own, either independently or in partnership with others, iron ore deposits in the Bergslagen region and develop them into producing mines that can, with strong long-term profitability, supply ultra-high-grade iron ore products to iron and steel producers, as well as competitive apatite concentrates to customers primarily in Europe, the Middle East, and North Africa.

Strategy

The business idea will be realized by:

  • Exploring and developing high-grade iron ore deposits
  • Creating an efficient, complete solution for mining, concentration and logistics
  • Be an attractive business partner with high delivery reliability for selected customer segments.
  • Producing and marketing a niche product with a very high iron content
  • Produce and market a competitive apatite product containing phosphorus and rare earth elements.
  • Where possible, convert waste streams into marketable by-products.

Objective

The company's operational objectives are to:

  • Resume mining operations in the Ludvik region, in one or more deposits.
  • Significantly increase mineral resources through exploration.
  • Sign long-term customer contracts for the entire production volume.

The company's financial target after the start of production is to achieve a sustainable positive result after financial costs and a level of profitability that is at least in line with the industry average.

Organization

Nordic Iron intends to expand the organization gradually as the need for in-house staff increases the further along in the project development process the company gets. The company is evaluating which parts should be managed in-house and what should be outsourced.

See Management and Board of Directors under Corporate Governance