results out28 Feb 2019 07:42
"It is good news that Sweden finally has a Government, and that new Ministers are getting back to business. In recent months, the mining industry in Sweden has been in focus, with other mining companies, SveMin and IF Metall, one of the main unions, raising the issues of uncertain permitting processes for mining projects, and unacceptable delays in decision making by authorities.
"In October 2018, we saw a spotlight put on the future of LKAB's operations at Kiruna, and with this attention paid to the importance of iron ore to Sweden. It highlighted the absurdity of the Kallak North application process, when authorities are unable to permit Europe's largest drill defined iron ore deposit.
"At the Future Mine and Mineral Conference last month in Stockholm, the CEO of Boliden made the comment in respect of exploration, that 'if you find something, then you should be able to utilise the asset'. It begs the question 'why would anyone invest in Sweden, if this wasn't the case'. For our own part, the authorities in Sweden have watched the Company invest SEK 77 million, drill over 28,000 metres, define a significant resource, and develop the Kallak project to where it is today.
"Taking all this into consideration, new Ministers, a debate on the importance of mining and iron ore to Sweden, and Sweden wishing to portray itself as an attractive destination for mining investors, we have renewed optimism that a Concession for Kallak North will be forthcoming, without further delay.