Beowulf Mining is a London and Stockholm listed European developer and future producer of primary raw materials critical for the green transition to a low-carbon economy, including market-leading high-grade iron concentrates for decarbonising steelmakers and natural flake graphite for the anodes in lithium-ion batteries. Beowulf’s mineral deposits have important sustainability and ESG advantages, proximity to markets, with access to renewable power supporting the vision for Net Zero production. Beowulf was awarded an Exploitation Concession for the priority Kallak North Iron Ore Project in March 2022, recently completed a Scoping Study with positive results, and aims to be producing in 2026.
The Kallak deposit was discovered by The Swedish Geological Survey ("SGU") in the 1940s and is located in Norrbotten County in northern Sweden. Iron ore that is to be mined contains approximately 28 per cent iron content ("Fe") which, through enrichment, can be upgraded to a 'market leading' concentrate containing 71.5 per cent Fe. The high-grade concentrate makes Kallak production attractive to downstream markets, such as emerging fossil-free steelmakers in the Nordics and decarbonising steelmakers in Europe. In the Kallak area, 389 million tonnes of iron mineralisation have been estimated which could see Kallak in production for decades to come. Jokkmokk Iron, Beowulf’s 100 per cent owned subsidiary, was awarded an Exploitation Concession for Kallak North in March 2022, granting rights to exploit the deposit over a 25-year period, recently completed a Scoping Study in January 2023 with positive economic results, and aims to have Kallak in production by 2026.
Kallak iron ore contains approximately 28 per cent iron content ("Fe") which, through enrichment, can be upgraded to a 'market leading' concentrate containing 71.5 per cent Fe. Kallak’s high-grade concentrate will be attractive to downstream markets, such as the decarbonising steelmaking industry. Fossil free steelmaking projects are in development in the Nordic region and European steelmakers are decarbonising. Kallak has important sustainability and ESG advantages, proximity to markets, shortening the supply chain and offering security of supply, and access to renewable power supports the vision for Net Zero production. The development of Kallak will bring opportunities for the local community in Jokkmokk. Investment and the creation of much needed jobs at Jokkmokk Iron, Beowulf’s 100 per cent owned subsidiary, will create indirect additional jobs locally, encourage the establishment of new companies, a reversal of the depopulation that has afflicted Jokkmokk over recent years and the conditions for a strong and vibrant future.