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Gold & Silver Prices in
First Concentrate Produced at Northland's Kaunisvaara Plant
Published : December 04, 2012
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Keywords :   Copper | Finland | Gold | Iron | Luxembourg | Market | Norway | Silica | Sweden | Water |

LUXEMBOURG, LUXEMBOURG--(Marketwire - Dec. 4, 2012) - Northland Resources S.A. (News - Market indicators)(OSLO:NAUR)(FRANKFURT:NPK)(OMX:NAURo) ("Northland" or the "Company") is pleased to announce that the first concentrate has now been produced at the Kaunisvaara process plant. The Kaunisvaara project is the first project that Northland has developed from exploration to production.

Northland Resources has executed the Kaunisvaara project in less than two years. During this period the Company has constructed the industrial area, removed more than 4,500,000 m3 of overburden from the Tapuli mine, and installed a primary crusher, conveyor belts, grizzly building as well as ore sheds. As the mills, separators and other equipment in the process plant are now operating, Northland is pleased to officially confirm that the first concentrate has been produced. 

"This is truly a remarkable achievement by the Northland team together with our key suppliers Metso, Peab and Pon CAT in Kaunisvaara. Northland has, all along, been able to keep up with the time schedule that we set up three years ago," said Karl-Axel Waplan, President & CEO of Northland. "This has only been possible with the tremendous dedication of the project management team and our competent staff. Our close partnership with our contract partners has played a vital role in our success."

Metso has supplied and installed the mineral processing equipment for the first process line at the Kaunisvaara process plant consisting of one primary gyratory crusher, one semi-autogenous/autogenous (SAG/AG) grinding mill, 2 vertical grinding mills ("VTM 3000"), magnetic separators and 2 VPA press filters.

With all these parts in place and the ongoing successful commissioning, Northland will continue the work towards its next goal which is to ship the first concentrate to customers early first quarter of 2013.

Northland plans to produce 1.4 million dry metric tonnes ("dmt") of high-grade (69%) iron ore concentrate, with low impurities such as alumina and silica in 2013 and 3.0 million dmt in 2014. The Company expects to reach the production capacity of 4.0 million dmt per year in the beginning of third quarter of 2014.

The product will be trucked 150 km on public roads to the trans-loading facility in Pitkäjärvi and then transported 226 km on the railway Malmbanan/Ofotbanen to the Port of Narvik in Norway for shipment to end customers. Narvik is an ice-free, deep-water port that allows shipment on Cape-size vessels year-around.

Kaunisvaara project milestones

  • DFS finalized: Q3 2010
  • Off-take for 100% of production signed: Q4 2010
  • USD 250 million equity raised: Q4 2010
  • Construction contracts in place - start of the project: Q4 2010 
  • Agreements signed for mining equipment and process plant: Q1 2011
  • Final approval to operate an iron ore terminal in Narvik: Q4 2011
  • Financing consisting of equity (USD 325m) and bond (USD 350m): Q1 2012
  • Start of the Pitkäjärvi terminal ground work: Q1 2012
  • Signed final logistics agreements with Savage, Peab and Grieg: Q2 2012
  • Logistics agreement signed with Green Cargo: Q2 2012
  • USD 40 million Cost Overrun Facility with Standard Bank: Q2 2012
  • Building permit granted in Pitkäjärvi: Q2 2012
  • Finalized financing for drill rigs and mobile equipment: Q2 2012
  • First delivery of mobile equipment from Caterpillar, mills from Metso and drill rigs from Atlas Copco: Q2 2012
  • First drawdown from the Bond Loan Facility: Q2 2012
  • Second drawdown from the Bond Loan Facility: Q3 2012
  • First ore blast in Kaunisvaara: Q3 2012
  • Northland granted the four requested slots on Malmbanan: Q3 2012
  • Dispensation for 90 tonnes trucks granted: Q4 2012
  • First concentrate produced in December 2012

Karl-Axel Waplan, President & CEO, Northland Resources S.A.

Northland is a producer of iron ore concentrate, with a portfolio of production, development and exploration mines and projects in northern Sweden and Finland. The first construction phase of the Kaunisvaara Project is complete and production started in November 2012. The Company will produce high-grade, high-quality magnetite iron concentrate in Kaunisvaara, Sweden, where the Company will exploit two magnetite iron ore deposits, Tapuli and Sahavaara. Northland has entered into off-take contracts with three partners for the entire production from the Kaunisvaara Project over the next seven to ten years. The Company is also preparing a Definitive Feasibility Study ("DFS") for its Hannukainen Iron Oxide Copper Gold ("IOCG") project in Kolari, northern Finland and for the Pellivuoma deposit, which is located 15 km from the Kaunisvaara processing plant.

Northland Resources S.A.
Karl-Axel Waplan
President and CEO
+46 705 104 239
Northland Resources S.A.
Peder Zetterberg
Acting CFO
+46 708 652 120
Northland Resources S.A.
Anders Antonsson
Vice President - Investor Relations
+46 709 994 970
Data and Statistics for these countries : Finland | Luxembourg | Norway | Sweden | All
Gold and Silver Prices for these countries : Finland | Luxembourg | Norway | Sweden | All

Northland Resources Inc.

ISIN : LU0488722801
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Northland Res. is an exploration copper company based in Canada.

Northland Res. develops copper and iron in Sweden, and holds various exploration projects in Finland and in Sweden.

Its main asset in development is TAPULI in Sweden and its main exploration properties are PELLIVUOMA, STORA SAHAVAARA, BARSELE/ NORRA, LANNAVAARA AND SAARIJARVI and KAUNISVAARA in Sweden and HANNUKAINEN and KUERVITIKKO in Finland.

Northland Res. is listed in Canada, in Germany, in Norway and in United States of America. Its market capitalisation is CA$ 66.8 millions as of today (US$ 61.6 millions, € 46.8 millions).

Its stock quote reached its highest recent level on May 16, 2008 at CA$ 4.34, and its lowest recent point on February 08, 2013 at CA$ 0.10.

Northland Res. has 514 179 000 shares outstanding.

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Corporate Presentations of Northland Resources Inc.
10/11/2007 Presenting at Canaccord Adams' Iron Ore Conference
In the News and Medias of Northland Resources Inc.
8/28/2009Northland Resources to review Swedish assets
Annual reports of Northland Resources Inc.
2010 Annual Report
2008 Annual Report
Financings of Northland Resources Inc.
6/18/2012Finalizes the Financing for its Drill Rigs
2/15/2012Announces Fully Subscribed Bond Offering and Re-Launch of Fu...
2/8/2012Extends the Application Period for the Equity Offering
11/22/2010Announces Filing of Preliminary Prospectus for Possible Equi...
11/20/2010Preliminary Prospectus for Possible Equity Offering
7/13/2007closes private placement & conducts public offering
6/19/2007C$107-million Private Placement Fully Subscribed
6/18/2007arranges C$107-million Private Placement
Nominations of Northland Resources Inc.
1/17/2012Appoints Acting Chief Financial Officer
8/29/2007Appoints Tuomo Mäkelä to the Board of Directors
8/9/2007Appoints Stuart Pettifor to the Board of Directors
7/27/2007(Barsele/ Norra)Retains Project Manager for Barsele-Norra Project Area
5/7/2007Appoints Birger Solberg as Director
2/27/2007Appoints CFO and COO
Financials of Northland Resources Inc.
11/14/2012Announces Third Quarter 2012 Results
Project news of Northland Resources Inc.
12/4/2012(Kaunisvaara)First Concentrate Produced at Northland's Kaunisvaara Plant
2/2/2012(Kaunisvaara)to Finance its Kaunisvaara Project
7/19/2011(Kaunisvaara)Significant Progress is Being Made at Northland's Kaunisvaar...
6/29/2011(Kaunisvaara)and Peab to Form a Joint Venture for Managing the Transport ...
6/10/2011(Hannukainen)Buys Properties in Preparation for the Hannukainen Mine in F...
5/31/2011(Kaunisvaara)Signs Agreement With Peab for the Civil Works at the Kaunisv...
5/18/2011(Kaunisvaara)Positive Update on Northland's Kaunisvaara Project Confirmin...
4/28/2011(Kaunisvaara)Signs Agreement with Poyry for Engineering and Construction ...
3/28/2011The Swedish Transport Administration and Northland Resources...
2/16/2011(Kaunisvaara)Signs Agreement with Metso for Long-Lead Items and Basic Eng...
1/4/2011(Hannukainen)Northland Files Exploitation Concession Application and Envi...
4/16/2010(Tapuli)Releases Tapuli, Sahavaara and Pellivuoma Mineral Resource U...
9/7/2009Moves to Feasibility Study after Positive PEA on Kaunisvaara...
8/27/2009(Barsele/ Norra)Northland Considers Strategic Opportunities for Swedish Gold...
3/14/2008(Stora Sahavaara)submits exploitation concession applications for Tapuli and ...
2/11/2008 Reports Iron Resource at Tapuli & Excellent Metallurgical T...
2/1/2008 Appoints Scoping Study Manager
1/16/2008Drills Extension of Stora Sahavaara Magnetite Body
1/14/2008(Salmivaara) Cuts 43% Iron over 53m at Salmivaara, Sweden
8/23/2007Defines Major Iron-Copper-Gold Resource at Hannukainen
7/26/2007(Stora Sahavaara)Northland's Stora Sahavaara Project Initial Test Results Yie...
3/21/2007(Barsele/ Norra)Reports Barsele Drill Results, Identifies High Grade Gold + ...
Corporate news of Northland Resources Inc.
3/15/2013to Be Delisted From the Toronto Stock Exchange
2/25/2013First Vessel Has Left the Port of Narvik
2/18/2013Notice to Attend the Creditors' Meeting for Northland's Swed...
2/5/2013Cancels Previously Announced Contemplated Equity Issue and B...
1/24/2013to Address Funding Shortfall Due to Higher Initial Opex and ...
12/18/2012Iron Ore Concentrate Has Reached the Port of Narvik
12/11/2012Completes a Successful Subscription of a USD 20 Million Bond...
11/29/2012Announces Third Draw Down From its Bond Loan
11/21/2012Operational Update - November 2012
10/26/2012Receives Dispensation for 90 Tonnes Trucks
10/15/2012Shares Trading on Nasdaq OMX in Stockholm under the Ticker N...
9/25/2012Operational Update - September 2012
9/17/2012Granted Requested Train Slots on the Malmbanan Railway
9/5/2012Welcomes Swedish Government's Infrastructure Drive
7/19/2012Operational Update - July 2012
7/2/2012Drawing Down on Bond Facility
5/28/2012USD 350 Million Bond Rated (B-) From S&P and (Caa1) from Moo...
5/22/2012Operational Update-May 2012
5/3/2012Has Signed a USD 40 Million Cost Overrun Facility
4/24/2012Signs Logistics Agreement with Green Cargo
4/12/2012Signs Mobile Mining Equipment Maintenance Agreement
3/19/2012Operational Update-March 2012
3/7/2012(Kaunisvaara)Streamlines its Management Structure Ahead of Production Sta...
2/23/2012Completes USD 325 Million Offering of Shares
12/21/2011(Kaunisvaara)Signs a USD 50 Million Bridge Financing for Its Kaunisvaara ...
12/1/2011Receives Construction Permit for Narvik Iron Ore Terminal
10/14/2011(Kaunisvaara)Strengthens its Kaunisvaara Operational Management Team
10/7/2011Management Appointments at Northland
9/6/2011(Kaunisvaara)Kaunisvaara Project On Time for Production in 2012 and Withi...
8/25/2011Obtains Final Approval to Operate an Iron Ore Terminal in Na...
8/4/2011(Kaunisvaara)Signs a Letter of Intent with Logistics Specialists to Manag...
7/6/2011Signs Agreement with FineWeld for Process Water Systems
4/12/2011S.A.: Clarification on Media Reports
4/7/2011Appoints Anders Antonsson as Vice President, Investor Relati...
3/22/2011Sells its Swedish Non-Ferrous Assets
11/19/2010Signs Off-take Agreement with Standard Bank
10/29/2010Northland Signs Off-take Agreement with Tata Steel
10/27/2010Tentative Agreement to Sell Northland's Non-Ferrous Assets i...
1/20/2010Continuation of Company to Luxembourg and Change Name to Nor...
10/13/2009Reorganizes Senior Executives in Response to Improved Market...
3/17/2008 Comments on Infrastructure Discussions
2/8/2008 Provides Drilling Update
12/12/2007Buys Anglo American's Royalty and Back-In Right in Swedish I...
10/23/2007Spins-Out Its Non-Ferrous Projects
10/2/2007Successful Pelletizing Test for Northland's Stora Sahavaara ...
9/13/2007Outlines Regional Exploration Progress
8/2/2007Receives Approval for Road Construction at the Tapuli Iron P...
8/1/2007 Mobilizes Drill to Salmivaara, Re-Assays Archived Core
7/24/20072007 Annual General Meeting
7/17/2007Provides Update on Metallurgical Testwork at Hannukainen Iro...
6/15/2007Announces Tapuli Drill Results
5/9/2007Acquires New Iron-Copper Target in Sweden
4/16/2007retains Corus Consulting to investigate beneficiation and ma...
3/26/2007Updates on Stora Sahavaara Iron Project
3/2/2007Film on Stora Sahavaara
2/28/2007Update on Bulk Sampling of Stora Sahavaara Iron-Copper Proje...
2/27/2007Releases More Iron-Copper-Gold Results for the Hannukainen P...
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