Grängesberg Iron AB

Letter of Intent with the Port of Oxelösund

October 6th, 2010

Grängesberg Iron AB and the Port of Oxelösund (Oxelösunds Hamn AB) have signed a Letter of Intent on future transports and loading of iron ore from the Grängesberg mine through the Oxelösund port. ”The Letter of Intent between our company and the port is an important step towards a future co-operation and displays the tremendous logistic advantages of the Grängesberg project”, says Gösta Bergman, Chairman of the Board of Grängesberg Iron AB. One of the important strengths of the project is the high capacity railway from the mine all the 250 kilometers down to the Port of Oxelösund.

“We are proud to say that our unique infrastructure, which connects sea and railway transports, is the reason for why Grängesberg Iron has made the choice to initiate a co-operation with the Port of Oxelösund”, says Erik Zetterlund, Managing Director of Oxelösunds Hamn AB. The iron ore products will be transported by train to Oxelösund for unloading and storage until shipping. The Port of Oxelösund has shown a strong development the last years and has made major investments to increase effectivity and for environmental benefits. Since 2006, the company has invested the equivalent of 30 million USD in the port and four new cranes have been taken in service.