April 11th, 2012
Swedish mining company Grängesberg Iron AB is pleased to announce the positive outcome of the Pre-Feasibility Study (PFS) on its iron ore mine project in Grängesberg, Bergslagen area in central Sweden. The study proves the project to be robust and clearly economically feasible. The Life of Mine, based on the current mineral reserve as defined in the PFS, is 16 years. The first production is planned for Q4 2015.
On behalf of Grängesberg Iron AB, the Pre-Feasibility Study has been performed by the independent global engineering firm URS Corporation (which in 2010 acquired engineering consultancy Scott Wilson), with contributions by other consultant companies and suppliers. The study describes all aspects of the future mining operations, from ore geology and mineral reserves, through mining, hoisting and beneficiation, to transportation and market analysis for the final iron ore products. The PFS has been performed according to the NI 43-101 regulations, with an accuracy of + / – 25% and represents a sound base for the further development of the project towards production.