Beowulf Mining summed up the progress that has been made so far this year, which led to the restart of drilling on its flagship Kallak iron ore project in Sweden.

The group also said the outlook for the global iron market is positive, noting that the EU still needs to import more than 80% of its demand requirements.

Executive chairman of Beowulf Mr Clive Sinclair-Poulton said that “Although global markets continue to be extremely volatile and uncertain, we are taking a longer term view, in the order of a five year plus timeframe.”

Drilling on the northern part its Kallak was restarted earlier this week after the company provided the local Saami community with due notice of the planned operations.

Drilling operations were suspended in December after the programme was found not to have been filed with the mining inspectorate.

Objections were also raised by the local Saami community, who said it could interfere with reindeer herding.

Mr Sinclair-Poulton said that “The group is fully cognisant of its regulatory responsibilities and the importance of developing and maintaining a good working relationship with the local communities and landowners.”

Beowulf added that it is now managing its drilling activities more effectively to avoid any such problems in future.

The group has held meetings with the principal municipal authorities of Jokkmokk and other local organisations including Saami village boards and local landowners to present its development plans and “address any concerns arising”.

The latest meeting in April focused on the ongoing environmental impact study prepared for the proposed test mining at Kallak. Beowulf said it sought to demonstrate our commitment to minimising the impact of our exploration activities.

Source - Proactive Investors

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