Beowulf Mining PLC on Monday, alongside its Finnish subsidiary Grafintec Oy, celebrated the renewal of an advance site reservation in the GigaVaasa area, where it plans to build a plant.

Beowulf Mining is a London-based mining company with iron ore, graphite, gold and base metal projects in Sweden, Finland and Kosovo.

Last Wednesday, the municipality of Korsholm approved a renewal of the advance site reservation for Plot 1, Block 3017 in the GigaVaasa area by a further six months. The extended advance site reservation is valid until July 31, with option to extend further.

‘I am very pleased that the municipality of Korsholm is showing us its continued support by approving a further renewal of the advance site reservation. Grafintec’s team supported by its engineering partners have made good progress since the initial site reservation a year ago,’ said Managing Director Rasmus Blomqvist.

‘The approval of a renewal of the site reservation enables us to continue with our development plans without delay. We look forward to updating the market with our progress in Finland.’

Beowulf Mining shares were down 0.9% at 1.29 pence each in London on Monday morning.

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