Four years after Northland Resources filed for bankruptcy, production of iron-ore concentrate starts at Kaunisvaara outside Pajala, northern Sweden, on July 18th.
Kaunis Iron is the name of the new company now ready to restart the mine with a targeted output of two million tons annually when full production is achieved by first quarter 2019. Later, production might increase.
Iron quality in the high grade concentrate will be 69%.
Shipping to Northern Norway
Like Northland Resource, also the new company will send the concentrate by railway to Narvik on the Norwegian side of the border for shipping to the world markets.
Kaunis Iron is owned by about 80 Swedish entrepreneurs who in cooperation with Carnegie Bank have managed to raise nearly 600 million kroner (€58 million).
The company is now hiring and says it needs about 300 employees.
Related stories from around the North:
Canada: Arctic nickel, not oil, could soon power the world’s cars, Cryopolitics Blog
Finland: Finland’s first silver mine to start production next year, Yle News
Norway: Norway grants drilling rights closer to protected Arctic waters, The Independent Barents Observer
Russia: Two more Russian rigs deployed for Arctic gas drilling, The Independent Barents Observer
Sweden: Sweden reluctantly greenlights construction of Nord Stream 2 gas pipeline, Radio Sweden
United States: America’s most toxic site is in the Alaskan Arctic, Cryopolitics Blog