Sweden-based mining company Nordic Iron Ore has announced the results of a pre-feasibility study (PFS) for its Blötberget-Väsmanfältet iron ore project near Ludvika, Sweden, outlining total mineral resources of 104.5 million mt and a 23-year mine life.
The PFS, prepared by WSP Sverige, estimates total mineral resources across Blötberget and Väsmanfältet at 104.5 million mt grading 39.0 percent Fe. Blötberget has proved and probable ore reserves of 55.7 million mt grading 36.1 percent Fe, up 63 percent from the 34.1 million mt reported in the project's 2019 definitive feasibility study.
Meanwhile, Väsmanfältet has 46.7 million mt of inferred mineral resources grading 35.7 percent Fe. Nordic Iron has also identified an exploration target of 7.9-80.5 million mt grading 24.7-43.2 percent Fe at Väsmanfältet. The company noted that further exploration is required to determine whether these volumes can ultimately be classified as mineral resources.
Annual iron ore concentrate output targeted at 2.2 million mt
Under the PFS mine plan, the project is expected to process a total of 100.5 million mt of mill feed over its 23-year mine life, averaging approximately 4.8 million mt per year during production years. Average annual production of 67.5 percent Fe ultra-high-grade iron ore concentrate is estimated at approximately 2.2 million mt, with total concentrate production reaching 45.7 million mt.
Nordic Iron plans to secure additional funding in 2026-27 before carrying out further exploration and definitive feasibility study work in 2027-28. The company expects to finalize the DFS, secure project financing and make a final investment decision in 2028-29, followed by construction between 2029 and 2031. Initial mining and concentrate production are currently targeted for 2031-32, while first ore from Väsmanfältet is expected in the late 2030s.
