Metso Corporation's press release on February 16, 2010 at 10.30 am local time
Metso will supply Northland Resources minerals processing equipment and basic engineering for the two process lines at Northland's new Kaunisvaara iron ore project in Sweden, exploiting Tapuli and Sahavaara iron ore deposits. The value of the orders will not be disclosed. The orders will be included in Mining and Construction Technology's Q1-Q2/2011 orders received. In addition, the parties have also signed a letter of intent covering all works related to the process plant system in Kaunisvaara iron ore project excluding building structure and related civil works.
The order of the minerals processing equipment includes a primary gyratory crusher, an autogenous grinding mill and three vertical grinding mills. The delivery is scheduled to the second quarter of 2012.
Kaunisvaara iron ore project is located in Northern Sweden, approximately 100 km north of the Arctic Circle, in the municipality of Pajala. After the completion, the annual capacity of the process plant will be 12 million tons of dry iron ore.
"The access to long lead items, proven to function in northern Scandinavia is among our key interests. With these agreements now in place, we will be able to keep our project schedule. We believe that Metso's proposed local service and maintenance organisation in Pajala will give significant benefit to Northland", says Karl-Axel Waplan, President and CEO of Northland Resources S.A.
Northland Resources is a development-stage mining company with a portfolio of iron ore projects in Northern Sweden and Finland. The company's Kaunisvaara project will exploit magnetite iron ore deposits, feeding a single, multi-line processing facility in Sweden. The process yields high-grade, high-quality magnetite iron concentrate.
Metso is a global supplier of sustainable technology and services for mining, construction, power generation, automation, recycling and the pulp and paper industries. We have about 28,500 employees in more than 50 countries. www.metso.com
Further information for the press, please contact:
Alf Rydberg, Commercial Manager, Mining and Construction Technology, Metso, tel. +46 705 245837
Wille Beckman, Vice President, Mining and Construction Technology, Metso, tel. +46 224 57149
It should be noted that certain statements herein which are not historical facts, including, without limitation, those regarding expectations for general economic development and the market situation, expectations for customer industry profitability and investment willingness, expectations for company growth, development and profitability and the realization of synergy benefits and cost savings, and statements preceded by "expects", "estimates", "forecasts" or similar expressions, are forward-looking statements. These statements are based on current decisions and plans and currently known factors. They involve risks and uncertainties which may cause the actual results to materially differ from the results currently expected by the company.
Such factors include, but are not limited to:
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(2) the competitive situation, especially significant technological solutions developed by competitors
(3) the company's own operating conditions, such as the success of production, product development and project management and their continuous development and improvement
(4) the success of pending and future acquisitions and restructuring.