Contracts in place for transportation of Dannemora ore

Green Cargo has been awarded the contract to operate trains loaded with ore to
the port of Hargshamn, for further transportation by sea to customers. The
agreement between Green Cargo and Dannemora Mineral runs for seven years with a
renewal option for another five years.

"We chose Green Cargo for the ore rail traffic contract because they offered a
solid production solution. Safe transportation is vital to our business and to
market confidence in us as a reliable supplier of iron ore", says Kjell
Klippmark, CEO of Dannemora's operating company Dannemora Magnetit AB.

Dannemora has also signed an agreement with Nacco S.A.S. on the leasing of 28
four-axle rail cars, each of which takes 69 tonnes of ore. The lease expires on
31 March 2019, with an option to extend until 2024 or purchase the cars.

Each ore train will consist of 22 ore cars, each one carrying 69 tonnes of ore.
Two locomotives will be used to pull each train, which will have a gross weight
of almost 2,000 tonnes.

At full operation, ore trains between Dannemora and Hargshamn will run three
times a day, seven days a week for 50 weeks annually.

In preparation for the start of the ore transportation, the Swedish Transport
Administration has reinforced the railway line's bearing strength to enable it
to withstand the heavy ore cars' axle pressure.

"With the renovation of the railway line and the two agreements we have signed,
we have guaranteed efficient and environmentally friendly transportation of ore
from mine to port," says Kjell Klippmark.
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