Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Live cams are not just for watching baby eagles and monitoring highway conditions, Northland has its own live cam where users can see how much progress the company has made on its Kaunisvaara project, an iron ore mine being built in northern Sweden.
You can find the live cam on the company’s website.
According to the company’s feasibility study, the first iron ore concentrate production is forecast for early 2013 at roughly 1.5 million tonnes per annum increasing to 5 Mtpa by 2014.
The project has a workforce of 100, which will eventually grow to 375.
On Thursday the company released a progress report.
“During the last days we have poured 1,200 tonnes of concrete to ensure a firm foundation for the two primary gyratory crushers, two autogenous grinding mills, seven vertical grinding mills (‘VTM 3000’), magnetic separators and seven VPA press filters. These mills will be the heart of the operation, which expect to produce 5 million tonnes of high-grade iron ore concentrate per annum.”
