Sweden-based mining and exploration company Dannemora Mineral has issued its financial results for the first quarter this year, registering a net loss of SEK 84.75 million ($13 million), compared to a net loss of SEK 133.86 million in the corresponding quarter of the previous year, while its sales revenues increased by 64.5 percent year on year to SEK 145.83 million ($22.4 million).
In the given quarter, Dannemora's iron ore production was 755,000 mt, 33.9 percent higher than the corresponding quarter of the previous year.
According to Dannemora, demand for the company's products remains strong. Annualized production of processed iron ore is more than 1.2 million mt. As reported for the fourth quarter of 2013, it is predicted that there will be demand for all of company's expected production in 2014.