Nordic Iron Ore
Nordic Iron Ore AB signs LOI with Hitachi Energy to secure electrical power station to Blötberget
Nordic Iron Ore AB has signed a Letter of Intent (“LOI”) with Hitachi Energy for a service to secure necessary electrical power to Blötberget. By securing stable supply of electricity to the mine, the company takes an important step in resuming sustainable mining of iron ore in Blötberget and being able to deliver green concentrated iron ore to steel production.
Nordic Iron Ore is evaluating different possibilities to secure the supply of electricity to Blötberget where the company has all the necessary grants to resume mining activity and extract iron ore. An important part of power supply is the so called power station.
The LOI has been entered with Hitachi Energy and means that the companies will initiate exclusive negotiations regarding a solution called Electrification as a Service for the 50/12KV system that reliable mining operations in Blötberget require. The arrangement would also include an option for a battery storage which would stabilize power output from the station.
“It is very satisfying that we together with Hitachi Energy can proceed and develop concrete plans and a new business model that make it possible for us to buy Electrification as a Service without the need for a capital intensive investment. This solution would reduce the business’s capital need and not only reduce our financial risk but also the installation and operational risks,” says Ronne Hamerslag, CEO of Nordic Iron Ore.
For additional information, please contact:
Ronne Hamerslag
CEO, Nordic Iron Ore AB
Tel: 0240 88 301
E-mail: ronne.hamerslag@nordicironore.se
| Datum | 2022-12-14, kl 10:40 |
| Källa | MFN |
Investera som eToros bästa investerare! Med eToros CopyTrader™, kan du automatiskt kopiera andra investerares beslut. Hitta investerare som du tror på och kopiera deras investeringar i realtid. Inga extra avgifter tas ut för funktionen.