Beowulf Mining plc is a Nordic focused, multi commodity, exploration and development company with a portfolio of assets in Sweden, Finland and Kosovo.
Sweden is one of Europe’s leading mining jurisdictions and iron ore producers. The Swedish Geological Survey (SGU) reports that, whilst the number of mines has fallen from around 240 in 1900 (mines and mining fields) to 12 producing mines in 2021, production has gone in the opposite direction. In 2022, total ore production stood at over 87.2 million tonnes (Mt), and in 2023, LKAB, the state-owned iron ore company, produced 26.2 Mt of iron ore. Beowulf’s most advanced project is the Kallak iron ore asset in northern Sweden from which test-work has produced a ‘market leading’ magnetite concentrate of 71.5% iron content. For Kallak North and South combined, a Measured and Indicated Mineral Resource of 132 Mt grading 27.8 % iron and an Inferred Mineral Resource of 39 Mt grading 27.1 % iron has been defined.
In Finland, the Company’s strategy is to develop a downstream processing plant, the Graphite Anode Materials Plant, or GAMP, to produce Coated Spherical Graphite (CSPG) for the lithium-ion battery industry. At the Aitolampi graphite project, one of Beowulf’s exploration licences in Finland, the Company has defined a resource of 1,275,000 tonnes contained graphite, possessing almost perfect crystallinity, an important prerequisite for high tech applications, such as the anodes of lithium-ion batteries.
In Kosovo, the Company, through its wholly-owned subsidiary Vardar Minerals, is exploring for base and precious metals.
Vardar’s exploration is focussed on the Mitrovica and Viti licence areas, both of which are located within the Tethyan Belt, a major orogenic metallogenic province for base and precious metals which extends from the Alps (Carpathians/Balkans) to Turkey, Iran and Indochina, and contains a number of world class discoveries.