Beowulf Mining published results from a scoping study for its Kallak North Iron Ore project in northern Sweden. The scoping study was based on a “base case” focusing solely on the Kallak North deposit, while additional resources and exploration targets exist within the scope of the project.
The base case study assumes 67 % of the Kallak production to be sold to the international blast furnace (BF) market, shipped from Luleå and Narvik, with the remaining 33% to be sold as a direct reduction (DR) product to domestic steel producers.
Based on 109 USD/dry metric tonne for BF and 125 USD/dmt for DR, the scoping study returned an NPV of 177 million USD, while current spot prices would increase the NPV to 852 million USD.
Kallak North and South deposits (Source: www.beowulfmining.com)
