Normet continues to invest in Electrification Technology and becomes a Minority Shareholder of Finland-based Startup Lekatech
The topic of sustainability has moved sharply into focus for all sectors around the world. Faced with the looming climate crisis, awareness of sustainable development has come to the fore and made its way into the underground mining and tunnelling industry. Normet is committed to sustainable development and is leading transformation into digitalised and sustainable underground mining and tunnelling.
LKAB has identified significant deposits of rare earth elements in the Kiruna area, metals which are essential for, among other applications, the manufacture of electric vehicles and wind turbines. Following successful exploration, the company today reports mineral resources of rare earth metals exceeding one million tonnes of rare earth oxides and the largest known deposit of its kind in Europe.
FLEXCO has developed the Elevate IoT platform – an intelligent Industry 4.0 solution that enables conveyor belt operators to monitor their belts in real time.
Grängesberg Exploration Holding AB
Grangex: Strong Interest for Dannemora’s high-quality Iron Ore Concentrate
Strong Interest for Dannemora’s high-quality Iron Ore Concentrate (Credits: Grangex)
Grängesberg Exploration Holding AB ("GRANGEX") has appointed Swedbank AB and SpareBank 1 Markets AS as financial advisors for the project financing of the restart of the Dannemora iron ore mine, as well as the build-up of the circular apatite project in Grängesberg.
With production start set out already in 2025, GRANGEX will - according to plan - through Dannemora become the first green producer of highly enriched magnetite concentrate, meeting the quality requirements for the production of sponge iron, a central component in green steelmaking. The concentrate from Dannemora will moreover have among the lowest carbon footprint in the industry.
The financial advisors will work with structuring and implementing a favourable and sustainable capital structure for GRANGEX. The work will extend over two phases and is set to be completed by Dannemora’s production start. Different capital markets financing alternatives as well as various project arrangements are in scope, where dialogues with several well-reputed, global strategic and financial investors have already been initiated.
In connection with ongoing discussions, GRANGEX today publishes the attached “Company update” presentation, which is also available on the Company’s website.
“During 2022, we have made substantial progress towards a restart of the Dannemora mine, quickly progressing towards establishing the greenest magnetite producer in the world. The year was intense, ending with the publication of the final feasibility study in December, which marked the end of the investigation phase and the start of the construction phase. At the same time, the process is ongoing at the Land and Environment Court of Appeal (Sw: “Mark- och miljödomstolen”) regarding permission for the resumption of mining operations in Dannemora. Adding to this the appointment of SpareBank 1 Markets and Swedbank as financial advisors further strengthens the conditions for a quick and successful restart of Dannemora. At the same time, we note a steadily increasing market interest for Dannemora’s high quality concentrate and are already in dialogue with several possible strategic partners in connection with the structured financing process”, says Christer Lindqvist, CEO of GRANGEX.
Normet acquires Finland-based Boom Systems Manufacturer Rambooms and hydraulic Attachments supplier Marakon
Normet has agreed to acquire Rambooms Oy, a manufacturer and supplier of rock breaker boom systems, and Marakon Oy, a supplier of hydraulic hammers and excavator attachments for the construction, crusher and mining industries.
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