Northland Commissions Metso to Supply Comminution Services
(Thomson Reuters ONE) -
Luxembourg, July 19, 2011: Northland Resources S.A. (TSX: NAU, OSE: NAUR,
Frankfurt: NPK - "Northland" or "the Company") is pleased to announce an
agreement with Metso for a five-year mill lining service and inspection program
for the Kaunisvaara mill. The project is under construction in northern Sweden.
The contract complements previous project orders that were announced by
Northland earlier this year. The order, which will cover five years, is valued
at EUR 19 million.
The Metso life-cycle services (LCS) program for Kaunisvaara includes both the
supply and installation of the mill liners as well as technical and maintenance
support for the semi-autogenous mill for the Tapuli process line. Metso on-site
resources will also conduct liner inspections to maximize mill availability. The
contract period will commence when the installation of the Tapuli process line
is completed at the end of 2012.
"We're pleased to have concluded this contract as it maximizes the availability
of our grinding line," said Shane Williams, Vice President - Projects, at
Northland. "As this is a cost-per-tonne contract, we'll be able to forecast
expenditures over an extended period of time. It will be a very useful asset in
view of the total investment involved."
"We embrace the opportunity to partner with Northland in a five-year LCS
commitment," says João Ney Colagrossi, President of Services business line,
Metso. "The speed at which operations at Kaunisvaara are progressing is
impressive and we are looking forward to further strengthening our relationship
with Northland."
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 two magnetite iron ore deposits in Sweden. The process will yield a very
high-grade, high-quality magnetite iron concentrate. The construction of the
Kaunisvaara project is well underway and production is planned to start in the
4th quarter of 2012. Northland has entered into industrial off-take contracts
which will last for 7-8 years for the entire production from Kaunisvaara. The
Company is also preparing a Definitive Feasibility Study for the Hannukainen
Iron Oxide Copper Gold Project in Kolari, northern Finland. The study is
expected late in the 4th quarter of 2011.
Metsois a global supplier of sustainable technology and services for mining,
construction, power generation, automation, recycling and the pulp and paper
industries. Metso has about 28,500 employees in more than 50 countries.
www.metso.com
"Karl-Axel Waplan"
President & CEO
Northland Resources S.A.
For more information, please contact:
Karl-Axel Waplan, President and CEO: +46 705 104 239
Shane Williams, Vice President Projects: +46 767 61 61 81
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#1531849]
Unternehmensinformation / Kurzprofil:
Datum: 19.07.2011 - 08:31 Uhr
Sprache: Deutsch
News-ID 56505
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