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Dannemora Offtake Agreement

Grängesberg Exploration Holding signed an offtake and royalty agreement with Anglo American for high-grade magnetite concentrate from Dannemora. The exclusive agreement covers the entire planned production throughout the life of mine, estimated to currently 11 years. As a condition for the offtake agreement, Anglo American also signed a 10 Mio USD royalty agreement that will support financing needs until the restart of the Dannemora mine.