Sweden-based mining and exploration company Dannemora Mineral has issued its financial results for the fourth quarter and the full year 2012.
In the fourth quarter, the company registered a net loss of SEK 104.4 million ($1.65 million), compared to a net loss of SEK 22.3 million in the corresponding quarter of the previous year, while the sales revenues amounted to SEK 81.25 million ($12.84 million), compared to SEK 824,000 in the fourth quarter of 2011.
In the full year 2012, Dannemora posted a net loss of SEK 240.8 million ($38.07 million), compared to a net loss of SEK 118.2 million in the previous year. The company's sales revenues increased to SEK 137.3 million ($21.7 million), from SEK 3.13 million registered in 2011.
According to Dannemora, in addition to the supply agreements signed with Salzgitter Flachstahl, ThyssenKrupp and Stemcor in 2011, new agreements were signed with ArcelorMittal, ROGESA Roheisengesellschaft Saar mbH and SSI UK (Sahaviriya Steel Industries) during 2012. The collaborations are generally long-term and take the form of framework agreements. During the year, 70,000 mt of iron ore fines and 163,000 mt of lump ore were delivered to customers in Europe.