RCS - Beowulf Mining PLC - Swedish Government Support for Infrastructure

Beowulf MiningAnnouncement

20/04/2026 07:00

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RNS Number : 0927B  Beowulf Mining PLC  20 April 2026

 

 

 

20 April 2026

 

 

Beowulf Mining plc

 

("Beowulf" or the "Company")

 

Swedish Government Support for Strategic Infrastructure

 

Beowulf (AIM: BEM; Spotlight: BEO) and its wholly-owned Swedish subsidiary
Jokkmokk Iron Mines AB ("Jokkmokk Iron") welcomes the recent announcements by
the Swedish Government confirming that the Inlandsbanan has been identified as
a priority corridor for rail infrastructure investment, recognising its
importance for national resilience, industrial logistics, and defence.

 

The Swedish Government, in its spring budget proposal released on 13 April
2026 (Spring Budget
(https://www.government.se/press-releases/2026/04/a-spring-budget-to-strengthen-and-protect-swedens-economy/)
), confirmed its commitment to infrastructure improvements in support of the
country's total defence. Andreas Carlson, Minister for Infrastructure and
Housing, further confirmed on 16 April 2026 the Government's support for
Inlandsbanan (LinkedIn post
(https://www.linkedin.com/feed/update/urn:li:activity:7450579134210211841/?originTrackingId=nwFD%2BEdEFMNR7ZvdWj8%2BsA%3D%3D)
) and suggested that approximately SEK 30 billion (£2.4 billion) will be
allocated to critical infrastructure between 2026 and 2034, stating:

 

" Infrastructure is a crucial part of our preparedness and central to
maintaining society's functionality in the event of heightened alert and
ultimately war. We continue to build a stronger Sweden that functions in
peace, crisis and ultimately war. Today, based primarily on the Armed Forces'
priorities,… upgrading and redundancy in the railway area… is largely
about the Inlandsbanan, which will be upgraded ".

 

These statements underscore the strategic role of Inlandsbanan as a
north-south transport artery through northern Sweden and signals targeted
measures to strengthen capacity, robustness and long‑term functionality of
the rail system, including for heavy industry and bulk materials transport.

 

The proposed rail investments are directly relevant to Jokkmokk Iron's Kallak
iron ore project, which is located approximately 40 km from the Inlandsbanan
rail. Access to reliable, upgraded rail infrastructure is a critical enabler
for the efficient and low‑carbon transport of iron ore to the market.

 

The Government's focus on rail infrastructure as part of Sweden's broader
industrial and security framework reinforces the long‑term strategic
rationale underpinning the Kallak project and supports the development of
domestic supply chains for raw materials, produced to high environmental and
social standards. Jokkmokk Iron continues to work in parallel on technical
development, permitting and stakeholder engagement for Kallak, and views the
recognition of Inlandsbanan's national importance as a positive signal for
infrastructure‑dependent projects in northern Sweden.

 

Ed Bowie, CEO of Beowulf, comments:

 

"It is positive to see the Swedish Government placing emphasis on the
strategic and industrial importance of its critical infrastructure, in
particular the Inlandsbanan, which we view as a key potential pathway for the
transportation of Kallak's high quality iron ore product to market.

 

"We welcome the proposal and look forward to the detailed measures the
Government intends to return."

 

 

Enquiries:

 

Beowulf Mining plc

Ed Bowie, Chief Executive Officer
ed.bowie@beowulfmining.com

 

SP Angel

(Nominated Adviser & Joint Broker)

Ewan Leggat / Stuart Gledhill / Adam Cowl          Tel: +44 (0) 20
3470 0470

 

Alternative Resource Capital

(Joint Broker)

Alex Wood
              Tel: +44 (020) 4530 9160

 

BlytheRay

Megan Ray / Rachael Brooks                               Tel:
+44 (0) 20 7138 3204

 
                          beowulf@blytheray.com
(mailto:beowulf@blytheray.com)

 

Cautionary Statement

 

Statements and assumptions made in this document with respect to the Company's
current plans, estimates, strategies and beliefs, and other statements that
are not historical facts, are forward-looking statements about the future
performance of Beowulf. Forward-looking statements include, but are not
limited to, those using words such as "may", "might", "seeks", "expects",
"anticipates", "estimates", "believes", "projects", "plans", strategy",
"forecast" and similar expressions. These statements reflect management's
expectations and assumptions in light of currently available information. They
are subject to a number of risks and uncertainties, including, but not limited
to , (i) changes in the economic, regulatory and political environments in the
countries where Beowulf operates; (ii) changes relating to the geological
information available in respect of the various projects undertaken; (iii)
Beowulf's continued ability to secure enough financing to carry on its
operations as a going concern; (iv) the success of its potential joint
ventures and alliances, if any; (v) metal prices, particularly as regards iron
ore. In the light of the many risks and uncertainties surrounding any mineral
project at an early stage of its development, the actual results could differ
materially from those presented and forecast in this document. Beowulf assumes
no unconditional obligation to immediately update any such statements and/or
forecast.

 

 

 

 

 

 

 

 

 

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