Dannemora Mineral to deliver iron ore to ArcelorMittal

DANNEMORA MINERAL TO DELIVER IRON ORE TO ARCELORMITTAL

Dannemora has signed an agreement with the world's largest steel company ArcelorMittal for delivery of approx. 15,000 tonnes of iron ore products. Delivery will take place in the third quarter of this year and the ore will be used in full-scale trial production at ArcelorMittal's production plant in Bremen, Germany.

ArcelorMittal is the world's leading steel producer in all product segments, with operations in more than 60 countries, spanning four continents. In 2009, ArcelorMittal had revenues of over $65 billion and crude steel production of over 73 million tonnes, representing approximately 8 percent of world steel production.

Dannemora Mineral has now signed iron ore trial delivery agreements with six European steel companies. The first agreement was signed in 2009 with the Austrian company Voestalpine and was followed in 2010 by agreements with the German steel companies Salzgitter, ThyssenKrupp and Rogesa and the Swedish steel company SSAB.

Staffan Bennerdt CEO and President of Dannemora Mineral: "We are delighted that so many European steel companies are showing interest in iron ore deliveries from the Dannemora mine, and that we have concluded an agreement with the largest steel producer in the world - ArcelorMittal. During summer, we shall enter into discussions on long-term supply contracts, while also negotiating loan financing of the Dannemora mining project."

The Press Release can be downloaded from the link below: