New agreement with Bergteamet for underground work in Dannemora mine

Dannemora Magnetit has signed an agreement with Bergteamet AB for further
underground work in the Dannemora mine.

The mine work involves ramp connection to the surface and pre-production
development work.The work, which will start immediately.

The new ramp connection to the surface will be approx. 1,650 metres in length,
extending from the surface down to the 236-metre level where it will connect to
the ongoing ramp placement to the main levels.

The new ramp will allow traffic access throughout the entire mine. The facility
to bring ore up by truck via the ramp is a pre-requisite for an early production
start.

The agreement covers up to 2,000 metres of drift development prior to the start
of production, as well as 2,000 metres of transport drift and approx. 60,000
drilling metres of production drilling in the ore. The contract is worth a total
value of around MSEK 170.


Bergteamet AB is one of Sweden's leading tunnelling and mine work contractors.
You may download the Press Release below


[HUG#1513280]