Beowulf Mining PLC Study of Kallak's Potential Economic Benefits
July 21 2017 - 2:00AM
RNS Non-Regulatory
TIDMBEM
Beowulf Mining PLC
21 July 2017
21 July 2017
Beowulf Mining plc
("Beowulf" or the "Company")
Study of Kallak's Potential Local and Regional Economic
Benefits
Beowulf (AIM: BEM; Aktietorget: BEO), the mineral exploration
and development company, focused on the Kallak magnetite iron ore
project and the Åtvidaberg polymetallic exploration licence in
Sweden, and its graphite portfolio in Finland, is pleased to
announce that Copenhagen Economics has been awarded a contract to
study the local and regional economic benefits of a modern and
sustainable mining operation at Kallak ("the Project").
The Project will build on the work carried out to date, by the
Company and others, including the 2015 independent socio-economic
study initiated by Jokkmokks Kommun, completed by consultants
Ramböll, which in its findings concluded that a mining development
at Kallak would create direct and indirect jobs, increase tax
revenues and slow down population decline, and the 2010 study by
the Economics Unit of Luleå University of Technology, 'Mining
Investment and Regional Development: A Scenario-based Assessment
for Northern Sweden'.
Copenhagen Economics has relevant expertise in the regional
mining sector, and has recently finalised a review of the
attractiveness of the Swedish mining sector on a number of
parameters, including licensing and regulation. This review was
commissioned by the Swedish Agency for Growth Policy Analysis, part
of the Government of Sweden.
Kurt Budge, CEO, commented:
"I am very pleased to have the support of Copenhagen Economics,
as we study and seek to better articulate the economic benefits, to
Jokkmokk and Norrbotten, of a modern and sustainable mining
operation at Kallak - the "Big Picture" - and how it fits in with
the objectives and ambitions of Swedish policy and decision
makers.
"Looking outside the Company, we have found a consultant with
the requisite expertise of the regional mining sector, the country
of Sweden, and its policies and regulations.
"The Project will further demonstrate the potential of Kallak,
as the foundation on which Jokkmokk can build its future, and a
thriving, diversified and sustainable economy.
"I look forward to providing further updates to shareholders in
due course."
About Copenhagen Economics
Copenhagen Economics was established in 2000 and has offices in
Copenhagen, Stockholm, and Brussels. Its single expertise is
Economics.
The partnership has 75 employees, who either hold a Ph.D. or
M.Sc. in Economics, and who represent multiple nationalities:
Danish, Swedish, German, Finnish, Italian, Lithuanian, Romanian and
American.
Copenhagen Economics' areas of work include: Economic Footprint
Analysis, Social Impact Assessment ("SIA"), mapping of comparative
strengths (Country 'SWOT' analysis), Value Chain Analysis,
including the potential for downstream processing, the impact of
tax and royalty Schemes, scenario building for successful
negotiation outcome, and Shared Value Strategies.
Enquiries:
Beowulf Mining plc
Kurt Budge, Chief Executive Tel: +44 (0) 20 3771 6993
Officer
Cantor Fitzgerald Europe
(Nominated Advisor & Broker)
David Porter/Craig Francis Tel: +44 (0) 20 7894 7000
Blytheweigh
Tim Blythe / Megan Ray Tel: +44 (0) 20 7138 3204
This information is provided by RNS
The company news service from the London Stock Exchange
END
NRASEWFMSFWSEEW
(END) Dow Jones Newswires
July 21, 2017 02:00 ET (06:00 GMT)
Beowulf Mining (LSE:BEM)
Historical Stock Chart
From Apr 2024 to May 2024
Beowulf Mining (LSE:BEM)
Historical Stock Chart
From May 2023 to May 2024