Change in Northland's Corporate Management
LUXEMBOURG, LUXEMBOURG--(Marketwired - Jul 16, 2014) - Northland Resources S.A. (OSLO:NAUR)(FRANKFURT:NPK)(OMX:NAURo) - together with its subsidiaries "Northland", "NRSA" or the "Company") announces a change in the Company's corporate management. Jonas Lundström, presently Senior Vice President, Vice President HR, Corporate Communication and Investor Relations, will leave the Company.
"Jonas Lundström has been an important person for Northland during a long time since he has been responsible for strategic areas such as community relations, permits and dispensations of transportation and logistics, employees and HR, environmental permits and communication. Jonas has made a very valuable contribution to Northland but we have now reached a stage where we need to organize ourselves differently," commented CEO, Johan Balck.
Northland has since 2008 developed from being an exploration company to an operating Company. A prerequisite for this development of the Company has been long-term work in areas that Jonas Lundström has been a part of execution of, including permits and dispensations for transportation and logistics, collaboration with the local communities and a range of environmental issues.
"Since 2008 I have been part of the team who worked on corporate development and social issues, of the kind that Northland represents. This has been a privilege. The Company is now in a production phase where today's challenges are different from previous. The development areas that have been gathered in my employment may now be allocated in a different way," said Jonas Lundström.
After this change will Communications Manager Niclas Dahlström be responsible for the company's Communication Department and responsibility for other concerned areas will be appointed and communicated at a later stage. Jonas Lundström will be available for the company for some time.
Northland is a producer of iron ore concentrate, with a portfolio of production, development and exploration mines and projects in northern Sweden and Finland. The first construction phase of the Kaunisvaara project is complete and production ramp-up started in November 2012. The Company expects to produce high-grade, high-quality magnetite iron concentrate in Kaunisvaara, Sweden, where the Company expects to exploit two magnetite iron ore deposits, Tapuli and Sahavaara. Northland has entered into off-take contracts with three partners for the entire production from the Kaunisvaara project over the next seven to ten years. The Company has also finalized a Definitive Feasibility Study ("DFS") for its Hannukainen Iron Oxide Copper Gold ("IOCG") project in Kolari, northern Finland.
Forward-Looking Information
This announcement may include "forward-looking" information within the meaning of applicable securities laws. This forward-looking information can be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "anticipates", "expects", "intends", "may", "will" or "should" or, in each case, their negative, or other variations or comparable terminology. This forward-looking information includes all matters that are expectations concerning, among other things, Northland's results of operations, financial condition, liquidity, prospects, growth, strategies and the industry in which it operates. By their nature, forward-looking information involves risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Readers are cautioned that forward-looking information is not a guarantee of future performance and that Northland's actual results of operations, financial condition and liquidity, and the development of the industry in which it operates may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, even if Northland's results of operations, financial condition and liquidity, and the development of the industry in which Northland operates are consistent with the forward-looking information contained in this press release, those results or developments may not be indicative of results or developments in subsequent periods.
