REG - Beowulf Mining PLC - NordicPipe to proceed independently of EIT

Beowulf MiningAnnouncement

27/04/2026 07:00

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RNS Number : 9964B  Beowulf Mining PLC  27 April 2026

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulation ("MAR")
(EU) No. 596/2014, as incorporated into UK law by the European Union
(Withdrawal) Act 2018 (as amended). Upon the publication of this announcement
this inside information is now considered to be in the public domain.

 

 

27 April 2026

 

 

Beowulf Mining plc

 

("Beowulf" or the "Company")

 

 

NordicPipe development to proceed independently of EIT

 

 

Beowulf (AIM: BEM; Spotlight: BEO), and its wholly-owned subsidiary Jokkmokk
Iron Mines AB ("Jokkmokk Iron"), announce that the consortium formed for the
NordicPipe project ("NordicPipe") will continue work on the project but has
withdrawn from the European Institute of Innovation and Technology ("EIT")
funding programme.

 

As announced on 18 March 2026, the consortium, led by Jokkmokk Iron, was
conditionally awarded funding to advance technical and environmental knowledge
to support the development and roll out of slurry pipelines as a sustainable
transportation solution in the Nordic region. Following this conditional
award, the consortium was informed of certain additional administrative
requirements and associated costs, above and beyond the co-funding obligations
and partial payback provisions already accounted for in the initial proposal.

 

After careful evaluation, the consortium concluded that the project's key
objectives can be achieved more efficiently, with greater flexibility, and
with a lower overall cost and administrative burden independently from the EIT
programme, and therefore has collectively decided to withdraw its application.

 

Jokkmokk Iron remains committed to advancing the pipeline solution with the
support of the consortium members and expects to progress this work on a
timetable aligned with the broader Kallak infrastructure development.

 

 

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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