The Company’s purpose is to be a responsible and innovative company that creates value for our shareholders, wider society, and the environment, through sustainably producing critical raw materials, which includes iron ore, graphite, and base metals, needed for the transition to a Green Economy and to address the Climate Emergency.
The Company’s asset portfolio is diversified by commodity, geography, and the development stage of its various projects.
The Company’s most advanced project is the Kallak iron ore asset in northern Sweden from which testwork has produced a ‘market leading’ magnetite concentrate of 71.5 per cent iron content. In the Kallak area, 389 million tonnes of iron mineralisation have been estimated, a potential source of high quality iron ore for fossil-free steel making in Norrbotten for decades to come.
Grafintec (previously Fennoscandian Resources), a wholly-owned subsidiary, through its collaboration with Epsilon Advance Materials Limited (“EAMPL”) is enhancing its position within the Finnish battery ecosystem, collaborating with a strong and innovative technology/processing partner, with plans to develop an anode materials plant in Vaasa, Finland to supply the growing lithium-ion battery sector in Europe.
In Kosovo, the Company owns approximately 59.5 per cent of Vardar Minerals (“Vardar”), which is focused on exploration in the Tethyan Belt, a major orogenic metallogenic province for gold and base metals. Vardar is delivering exciting results for its Mitrovica licence which has several exploration targets, including lead, zinc, copper, and gold. It also has the Viti licence which is showing potential for copper-gold porphyry mineralisation. With Beowulf’s support, Vardar is focused on making a discovery.
Kallak is the foundation asset of the Company, but with Vardar and Grafintec, the Company has many opportunities to grow, each business area displaying strong prospects.