Northland Signs Agreement with FineWeld for Process Water Systems
(Thomson Reuters ONE) -
Luxembourg, July 6, 2011: Northland Resources S.A. (TSX: NAU, OSE: NAUR,
Frankfurt: NPK - "Northland" or "the Company") is pleased to announce an
agreement with FineWeld Group ("FineWeld") for the supply of water systems from
the Muonio River to the Kaunisvaara process plant and to associated project
sites.
The value of the contract totals USD 41.7 million and comprises engineering and
design, all pump stations and related civil works as water/piping systems. The
total length of pipeline is approximately 40 km. The installation will start
immediately and the delivery is expected to be completed by the third quarter of
2012.
"We are pleased with the agreement with FineWeld," says Shane Williams, Vice
President Projects of Northland Resources S.A. "FineWeld is one of the leading
and largest manufacturers of piping for industry projects. Our decision to work
with FineWeld was based upon their reputation for high quality product and
service. This agreement aims to ensure that deliveries will be timely, and we
look forward to building a reliable collaboration with them."
The Kaunisvaara iron ore project is located in Northern Sweden, approximately
100 km north of the Arctic Circle, in the municipality of Pajala. After the
completion, the annual capacity of the process plant will be 12 million tonnes
of iron ore and 5 million tonnes of iron ore concentrate.
Northland is a development-stage mining company with a portfolio of iron ore
projects in northern Sweden and Finland. The Company's Kaunisvaara Project will
exploit magnetite iron ore deposits, feeding a single, multi-line processing
facility in Sweden. The process yields a very high-grade, high-quality magnetite
iron concentrate. The Company is also preparing a Definitive Feasibility Study
for the Hannukainen Iron Oxide Copper Gold Project in Kolari, northern Finland.
FineWeld is a privately owned company with its main office and workshop located
in Kokkola, Finland. FineWeld offers complete process deliveries to industry
investment projects and deliveries typically consist of piping system with
related equipment and steel structures. FineWeld has been involved in all of the
larger mining projects in Scandinavia in the recent years. Due to the high
prefabrication degree and efficient installation FineWeld supplies piping
globally to industrial projects. More information can be found on
www.fineweld.fi.
"Karl-Axel Waplan"
President & CEO
Northland Resources S.A.
For more information, please contact:
Shane Williams, Vice President - Projects: +46 767 61 61 81
Eva Kaijser, CFO: +46 709 32 09 01
Anders Antonsson, Vice President - Investor Relations: +46 709 994 970
Marguerite Manshreck-Head, Investors Relations, Canada: +1 647 224 7882
Or visit our website: www.northland.eu
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Northland Resources S.A. via Thomson Reuters ONE
[HUG#1528695]
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Datum: 06.07.2011 - 08:46 Uhr
Sprache: Deutsch
News-ID 56156
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