We restart mining responsibly with modern technology

Nordic Iron is a mining company in southern Dalarna. The goal is to resume mining in the previously active mines Blötberget and Håksberg, as well as the intermediate Väsman field, whose potential is considered significant.

The company has all the necessary permits in place for the initial project in Blötberget and will be able to produce very high quality iron ore concentrate. The company is thus well positioned in a market where demand for ultra-highly enriched iron ore concentrate is increasing.

Vision

Nordic Iron will be a major Swedish producer of ultra high-grade iron ore concentrate for a market in transition to the green economy.

Business concept

Nordic Iron's business concept is to own or jointly with others own iron ore deposits in Bergslagen and develop these into producing mines that can deliver high-quality iron ore products with good long-term profitability to steelworks in Europe and other parts of the world.

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
  • Where possible, convert waste streams into marketable by-products.

Objective

The company's operational objectives are to:

  • Resume mining in the Ludvika region, starting in Blötberget.
  • Significantly increase mineral resources through exploration.
  • After the start of production in Blötberget, start up mining in more nearby deposits.
  • 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