Dannemora Increases Life Expectancy of Iron Ore Mine

Dannemora Mineral’s announced it is increasing the life expectancy of its iron ore mine to 15 years.

As quoted in the market news:

The mining plan for the mine has been adjusted to reflect the new mineral resource estimate. The mine’s life expectancy has increased by approx. 2 years to 15 years compared with the previously estimated life of 13 years.

At planned production of approx. 1,500,000 tonnes of iron ore products per year, Dannemora’s cash cost (i.e. cost of production plus transportation and all other expenses to the port), is estimated at SEK 265 per tonne of finished product. This corresponds to just under USD 40 per tonne at the current dollar exchange rate (SEK 6.65).

Click here to read the full Dannemora Minerals press release.