By Joe Hoppe

 

Beowulf Mining PLC said Wednesday that it has noted its share price rise in Stockholm and London after recent positive comments from the new Swedish government.

Shares in London at 0913 GMT were up 0.63 pence, or 10.2%, at 6.75 pence.

The U.K.-based, Nordic-focused mining company said that the new Swedish Prime Minister Magdalena Andersson has spoken about the need for more mines in the country, while the new Minister of Enterprise and Innovation Karl-Petter Thorwaldsson spoke about taking action with regard to making a decision on Beowulf's Kallak iron ore project.

The company said it will write to Mr. Thorwaldsson to seek clarification on the remaining assessment process in the Kallak case and the timing of a decision.

Beowulf first applied for an exploitation license for Kallak in 2013, and in 2015 Sweden's Mining Inspectorate recommended the government award the concession. However, the company is still waiting for the authorities to make a decision.

In October, Beowulf said the Swedish government had suggested that Unesco assess whether the project would have an effect on the world heritage of Laponia.

 

Write to Joe Hoppe at joseph.hoppe@wsj.com

 

(END) Dow Jones Newswires

December 01, 2021 04:34 ET (09:34 GMT)

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