Stemcor signs long-term iron ore supply contract with Dannemora

Stemcor UK Ltd has signed a five-year off-take agreement with Dannemora Mineral  AB in Sweden for the annual supply of up to 40 percent of production or approx. 600,000 tonnes of iron ore. Deliveries will commence in 2013. 

Neil Cohen, the director responsible for iron ore trading in Stemcor UK, said: “ We will be collaborating closely with Dannemora in terms of sales destinations, product quality and liaison with our regular buyers”.

Dannemora Mineral AB is a mining and exploration company which has as its primary goal the resumption of mining operations in the Dannemora iron ore mine. The mine is situated in Östhammar municipality, approximately 40 km north of Uppsala and 35 km west of Hargshamn from where ore shipment will take place. The nearest populated area is Österbybruk (pop. 2,000) which is situated some 2 km east of the mine.

Staffan Bennerdt, CEO and President of Dannemora Mineral, said: "The agreement is a confirmation that our products are attractive in the market and means that we have now signed contracts for 80 percent of our production at full operation and secured our sales for 2012 and 2013”. 

Dannemora Mineral comprises the Parent Company Dannemora Mineral AB and the wholly-owned subsidiaries Dannemora Magnetit AB (responsible for operation of the Dannemora mine and the Group’s exploration activities) and Dannemora Förvaltnings AB (responsible for the property portfolio). The Company is listed on OMX First North, Stockholm and Oslo Axess.

More information on Dannemora can be found at: http://www.dannemoramineral.se