Brief: Nordic Iron Ore Publishes Scoping Study For Väsman Field

Nordic Iron Ore AB

15/11/2019 08:18

Nov 15 (Reuters) - Nordic Iron Ore AB  NIO.ST :
    * PUBLISHES SCOPING STUDY FOR THE VÄSMAN FIELD
    * MINING CONSULTANT SRK TO ASSESS CONDITIONS FOR AND
DESIGNAPPROPRIATE APPROACH FOR CONTINUED DEVELOPMENT OF VÄSMAN
IRON FIELD
    * ONLY LIMITED PART OF POTENTIAL MINERAL RESOURCES IN VÄSMAN
AREA
ARE INCLUDED IN CALCULATIONS
    * STUDY ASSUMES BENEFICIATION PLANT BEING BUILT FOR
BLÖTBERGET
WILL BE SUPPLEMENTED TO ALSO BE ABLE TO HANDLE ORE FROM VÄSMAN
    * TOTAL INVESTMENTS UP TO START OF OPERATIONS, ABOVE AND
BELOW
GROUND, ARE ESTIMATED AT USD 67.3 MILLION.
    * IT HAS BEEN ASSUMED THAT PRODUCT WILL CONTAIN AROUND 68%
FE
    * ANNUAL PRODUCTION VOLUME IS ASSUMED TO AMOUNT TO
APPROXIMATELY
1.3 - 1.5 MILLION TONNES OF PRODUCT PER YEAR AT FULL PRODUCTION
    * RESULT IN A NET PRESENT VALUE (NPV) FOR PROJECT OF USD
70.9
MILLION (APPROXIMATELY SEK 690 MILLION) AT A DISCOUNT RATE OF 8%

Source text for Eikon:  ID:nWkr6WrY4f 
Further company coverage:  NIO.ST 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 772 0920;))