Health & Safety
Lost Time Injury Frequency Rate ("LTIFR") according to the Swedish standard(3) from the end of February 2012 until end of February 2013 was 3.10 (3.18 for the previous period that ended December 31).
The corresponding number according the international standard(4) for the same period was 0.50 per 200,000 worked hours (0.52 for the previous period that ended December 31).
There was one LTIFR incident reported for both the International and Swedish standards during this period, January 1-February 28 (November 1-December 31: one).
A total of 52 near hits were reported for the same period (previous two-month period: 40).
Pellivuoma is located approximately 15 km west of Sahavaara. The Company controls 100% of the exploration permit, which totals 11,346 hectares. The deposit constitutes potentially significant additional tonnage in the Kaunisvaara area.
The DFS report for the Pellivuoma deposit is expected to be published shortly after a long term financial solution has been secured.
The recruiting process of operators to new mining machines is ongoing, as well for the planning department (surveyors, planner, mine engineer and sampler for drill cuttings).
Next Operational Update
The eight issue of Operational Update is expected to be published on May 30, 2013.
Financial Statements and MD&A for the first quarter 2013
The Company will publish its Financial Statements and Management's Discussion and Analysis for the period ending March 31, 2013, on May 8, 2013.
To view the images associated with this release, please visit the following link: http://media3.marketwire.com/docs/nr322_Images.pdf
Additional photos and video clips are available on Northland Resources' website, www.northland.eu.
Karl-Axel Waplan, President & CEO, Northland Resources S.A.
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 is also preparing a Definitive Feasibility Study ("DFS") for its Hannukainen Iron Oxide Copper Gold ("IOCG") project in Kolari, northern Finland and for the Pellivuoma deposit, which is located 15 km from the Kaunisvaara processing plant.
This announcement may include "forward-looking" statements within the meaning of applicable securities laws. These forward-looking statements 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. These forward-looking statements include all matters that are expectations concerning, among other things, Northland Resources results of operations, financial condition, liquidity, prospects, growth, strategies and the industry in which it operates. By their nature, forward-looking statements involve 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 statements are not guarantees of future performance and that Northland Resources' 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 statements contained in this press release. In addition, even if Northland Resources' results of operations, financial condition and liquidity, and the development of the industry in which Northland Resources operates are consistent with the forward-looking statements contained in this press release, those results or developments may not be indicative of results or developments in subsequent periods.
(1) Dry million tonnes
(2) Dry million tonnes per annum
(3) Lost Time Injury Swedish standard as adopted by SveMin members: Absence of one shift or more from regular duty following the accident. Reference period: 1 million worked hours.
(4) International Lost Time Injury definition: Absence of three shifts or more from regular duty following the accident. Reference period: 200,000 worked hours.
Northland Resources S.A.
President and CEO
+46 705 104 239
Northland Resources S.A.
+46 709 320 901
Northland Resources S.A.
Vice President - Investor Relations
+46 709 994 970
Most Popular Stories
- 15 Myths That Could Ruin Your Hispanic Ad Campaign
- AIG to Create 230 Jobs in Charlotte
- General Motors Names Mary Barra as First Female CEO
- Russia Says Nyet to Canada North Pole Claim
- Bipartisan Negotiators Reach Modest Budget Agreement
- Senate Dems Move Forward With Obama Nominees
- Justin Bieber Visits Typhoon Victims, Plays Concert
- New Obama Aide to Focus on Climate Change
- Obama Nominee Confirmed for D.C. Appeals Court
- MasterCard to Split Shares, Raise Dividend