Beowulf Mining PLC said on Thursday that test work has confirmed a high-grade product at Kallak iron ore project in Sweden.
The Nordic-focused mineral resource developer said that its metallurgical test-work programme for the Kallak asset has demonstrated the ability to produce an exceptionally high-grade, low impurity iron ore concentrate grading over 68% iron content and containing less than 3.7% silica and less than 0.23% alumina.
This supports the prior assumption that Kallak can product a concentrate suitable for the green steel sector.
The test work was completed in preparation for the Kallak pre-feasibility study that will build on previous programmes.
Chief Executive Officer Ed Bowie said: ‘The metallurgical test work has confirmed that Kallak can produce an exceptionally high grade, low impurity concentrate. Furthermore, this concentrate can be upgraded to a grade of over 70% iron with low levels of silica, a product that would be well suited for use as feedstock for modern, lower-carbon emitting steel-making practices including the direct reduced iron-electric arc furnace route. The indicative flow-sheet also has a number of significant advantages: utilising conventional technology and only physical separation with no flotation; and producing a single product.
‘The results of this test work have now been passed to our process engineers who will design the full industrial flow-sheet with appropriate equipment sizing.’
Shares in Beowulf Mining rose 8.1% to 25.94 pence each in London on Thursday afternoon.
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