Bluelake Mineral AB (publ) (the "Company" or "Bluelake Mineral") is, as previously announced, via its Norwegian subsidiary Joma Gruver AS, working with the permit process in Norway to implement a so-called plan program and to obtain an approved zoning plan which is a detailed plan for the industrial area for the proposed mining operations in Joma in Røyrvik municipality in Trøndelag county. Due to certain previous administrative handling errors, Røyrvik municipality decided in June 2022 to transfer responsibility for the administrative handling of the process to the larger neighboring municipality of Grong. In November 2022, Grong municipality communicated a timetable for the continued processing and with a possible objective that a decision regarding the zoning plan could be taken at the end of spring 2023 by the executive board of Røyrvik municipality. Grong municipality has now announced, in consultation with the chairman of Røyrvik municipality, that a further meeting according to the so-called consultation process should take place with the local reindeer herding district Tjåehkere Sijte before the zoning plan can be brought up for new consideration. Such a consultation meeting is now scheduled for March 17, 2023. Grong municipality has not announced a new detailed schedule, but the requirement for an additional consultation meeting with Tjåehkere Sijte means delays in relation to the schedule previously communicated by Grong municipality.
As previously announced, Røyrvik municipality has transferred responsibility for all handling of the zoning plan process regarding Joma mine to the municipality of Grong. This occured after the municipal director of Røyrvik in June 2022 declared that there was a conflict of interest between this task and her close connection to the local reindeer herding district.
Due to the objections (Norwegian innsigelser) in the hearing process related to the zoning plan, Grong Municipality has conducted a process involving the Sámi Parliament and the state administrator of the county of Trøndelag regarding these objections. After certain changes in the zoning plan by Joma Gruver, the state administrator has withdrawn the objection to the zoning plan in a letter dated September 1, 2022. However, the Sámi Parliament was clear at a meeting held on July 7, 2022 that it did not intend to withdraw the objection until Røyrvik municipality reached an agreement with the local reindeer herding district Tjåehkere Sijte regarding the planned mining operations.
As previously announced, in a letter dated September 27, 2022, the local reindeer herding district Tjåehkere Sijte demanded that a so-called consultation meeting should be held with Røyrvik municipality in matters related to the zoning plan process. Rules for consultation with Sámi ethnic groups are set out in the Norwegian Sami Act (Norwegian Sameloven) and now apply not only to the Norwegian state but also to counties (Norwegian fylken) and municipalities. A first consultation meeting was held in November 2022. Grong municipality and Tjåehkere Sijte have now agreed that a new consultation meeting will be held in March 2023. Furthermore, Grong municipality has also announced that it has decided, in agreement with the chairman of Røyrvik municipality, that the zoning plan cannot be brought up for new review before this consultation meeting has been held. Grong municipality has not announced a new detailed timetable, but the request for an additional consultation meeting with Tjåehkere Sijte implies delays in relation to the timetable previously communicated by Grong municipality.
It is unfortunate that the the zoning plan is again delayed, but the important thing is that the process is handled in compliance with Norwegian law to ensure that all decisions in this matter are made correctly and without the risk of reprobation at a later stage. Therefore, we believe that the municipality of Grong has acted with prudence and we have full confidence in their handling of this process", says Joma Gruver AS chairman Peter Hjorth.
Stockholm, January 2023
Bluelake Mineral AB (publ)
The Board of Directors
Publication of information
This information is inside information which Bluelake Mineral AB (publ) is required to publish in accordance with the EU Market Abuse Regulation. The information was submitted, for publication on January 26, 2023, at 11.30 CET, by the contact person below.
Additional information
For additional information, please contact:
Peter Hjorth, CEO, Bluelake Mineral AB (public), phone +46-725 38 25 25
Email: [email protected]
General information about the Company
Bluelake Mineral AB (public) is an independent Swedish company active in exploration and mine development of copper, zinc, nickel and gold resources.
The Company owns approximately 99% of the subsidiary Vilhelmina Mineral AB, which is focusing on development of copper and zinc deposits in the Nordic region. In Sweden, the Company owns Stekenjokk-Levi project, where a total of approximately 7 million tonnes of ore were mined between 1976 and 1988 with an average grade 1.5% Cu and 3.5% Zn. Stekenjokk-Levi is, according to a recent Mineral Resource Estimate by SRK Consulting, containing inferred mineral resources of approximately 6.7 million tonnes with 0.9 % Cu, 2.7 % Zn, 0.6 % Pb, 55 Ag g/t and 0.2 g/t Au for Stekenjokk and inferred mineral resources of 5.1 million tonnes with 1.0 % Cu, 1.5 % Zn, 0.1 % Pb, 22 Ag g/t and 0.2 g/t Au for Levi (at a NSR cut-off of 60 USD/t). In Norway, the Company is owner of Joma Gruver AS which holds exploitation rights for the Joma field, where approximately 11.5 million tonnes of ore were processed between 1972 and 1998 with an average grade of 1.5% Cu and 1.5% Zn. The Joma field (excluding Gjersvik) is, according to a recent mineral estimate by SRK Consulting, containing indicated mineral resources of approximately 6 million tonnes with grades amounting to 1.00 % Cu and 1.66 % Zn and inferred resources of 1.2 million tonnes with grades 1.2 % Cu and 0.7 % Zn (at cut-off of 50 USD/t).
In addition, the Company holds exploitation concessions for the nickel project Rönnbäcken (which is Europe's largest known undeveloped nickel resource) and an exploration permit for Orrbäcken, both which are located in Sweden. According to a recently updated mineral resource update in by the mining consulting company SRK, the Rönnbäcken project contains a mineral resource of 600 million tonnes with an average grade of 0.18% Ni, 0.003% Co and 5.7% Fe ("measured and indicated"). The updated preliminary economic assessment that SRK completed predicts a production of 23,000 tonnes of nickel, 660 tonnes of cobalt and 1.5 million tonnes of iron per year for 20 years, which would be a significant share of Sweden's total annual use of nickel which thereby has a strategic value. Orrbäcken is considered to have potential as a nickel deposit.
Further, the Company holds an exploration permit for Kattisavan which is considered to have potential as a gold resource and is located within the so-called gold line, close to projects such as Svartliden, Fäboliden and Barsele.
The shareholders of Bluelake Mineral AB (publ) ("Bluelake" or the "Company") have held an Extraordinary General Meeting on March 29, 2023 (the "EGM") whereby the following main decisions were made.
Bluelake Mineral AB (publ) (the "Company" or "Bluelake Mineral") notes that in Brussels on Thursday, March 16, the EU presented a proposal for legislation regarding critical raw materials called the European Critical Raw Materials Act ("CRMA"). The bill on critical raw materials is being put forward by the EU to support domestic capacity and strengthen sustainability work around value chains based on critical raw materials within the EU. The objective is to enable the green transition, securing digitization, and protecting the defense and space industry in Europe. According to the proposal, increased European access to metals and minerals is required to cope with climate change and strengthen the EU's degree of self-sufficiency. In the proposal, there are demands for significantly faster permit processes, something that has been a problem in Sweden. In CRMA, 34 so-called critical raw materials are identified and of these, 16 are deemed to be of particular strategic importance. Among those of strategic importance are copper occurring in Bluelake Minerals' projects Stekenjokk-Levi and Joma, as well as nickel and cobalt occurring in the Company's project Rönnbäcken. With regard to the strategic raw materials, the EU sets several targets, for example that at least 10% of the EU's annual consumption of strategic raw materials must be mined within the EU by 2030.
The shareholders of Bluelake Mineral AB (publ), company registration no 556493-3199 (the "Company"), are hereby invited to participate in the Extraordinary General Meeting ("EGM") to be held on March 29, 2023 at 10 am at Brahegatan 29, 114 37 Stockholm, Sweden.
Fourth Quarter 2022 (October - December 2022)
Full Year 2022 (January - December 2022)
Bluelake Mineral AB (publ) (the "Company" or "Bluelake Mineral") has, as previously announced via the subsidiary Vilhelmina Mineral AB, applied for exploitation concessions for the areas Stekenjokk K no. 1 and Levi K no. 1 in Vilhelmina and Strömsund municipalities. After the County Administrative Board in Västerbotten County granted a Natura 2000 permit for mining operations in the area, the Swedish Mining Inspectorate has resumed processing the applications for exploitation concessions. During this process, the Swedish Mining Inspectorate has drawn attention to the issue of mineral resource assessment, after which the Company now has expressed its opinion on the matter to the Swedish Mining Inspectorate.
Bluelake Mineral AB (publ) (the "Company" or "Bluelake Mineral") is, as previously announced, via its Norwegian subsidiary Joma Gruver AS, working with the permit process in Norway to implement a so-called plan program and to obtain an approved zoning plan which is a detailed plan for the industrial area for the proposed mining operations in Joma in Røyrvik municipality in Trøndelag county. The process related to the zoning plan and re-start of the Joma mine involves social and political processes with many stakeholders both locally, regionally and nationally to establish legitimacy. In order to further strengthen the organization and the network of contacts, Joma Gruver has recruited Bjarne Håkon Hanssen as strategic advisor and head of communication. Hanssen is a former minister in two Norwegian governments under Jens Stoltenberg as Prime Minister and Hanssen was, among other things, Minister of Labor and Integration and was then responsible for coordinating the government's work on various Sami issues, including regular consultations with the Sami Parliament. Hanssen takes up his new role in Joma Gruver immediately.