Business
Corporate update
Beowulf Mining PLC has secured short-term funding and is progressing with its longer-term capital strategy, including a non-binding Heads of Terms for the sale of 100% of Vardar Minerals Limited and a €7 million loan application for Grafintec, which requires €5 million in matched equity. In Sweden, technical work on the Kallak Iron Ore Project focuses on mining fleet optimisation with two Nordic truck manufacturers, and a sustainability strategy has been published. In Finland, an EU Strategic Project application was submitted for the Graphite Anode Materials Plant (GAMP), and a rectification request has been filed following an initial Business Finland Tax Credit assessment. The company highlights the strategic importance of its graphite and iron ore projects for resilient European supply chains. Disclaimer*
About this update from Beowulf Mining Plc
[{"type":"text","content":"\n\n \n21 January 2026\nBeowulf Mining Plc\n(\"Beowulf\" or the \"Company\")\n \nCorporate update\n \nBeowulf (AIM: BEM; Spotlight: BEO), the European mineral exploration and development company, is pleased to provide an update on progress made across its portfolio of assets.\n \nHighlights\nCorporate:\n· Short-term funding secured in December with longer-term funding strategy announced and progressing\n· Updated Corporate Presentation available on the Company's website at: Beowulf Corporate Presentation\nIn Sweden:\n· Technical activity focused on mining fleet optimisation with ongoing studies completed in collaboration with two market-leading Nordic truck manufacturers for the Kallak Iron Ore Project (\"Kallak\")\n· Sustainability Strategy for Beowulf's wholly owned Swedish subsidiary, Jokkmokk Iron Mines AB (\"Jokkmokk Iron\"), published at: Jokkmokk Iron Sustainability Strategy\nIn Finland:\n· EU Strategic Project application submitted for the Graphite Anode Materials Plant (\"GAMP\")\n· Rectification request submitted following initial Business Finland Tax Credit assessment\n· Sustainability Strategy for Beowulf's wholly owned Finnish subsidiary, Grafintec Oy (\"Grafintec\"), published at: Grafintec Sustainability Strategy\n \nEd Bowie, CEO of Beowulf, commented:\n\"As we progress our core assets and funding strategy, the importance of resilient, domestic supply chains for raw materials continues to dominate headlines even if political leaders have softened their positions on climate change. This demand is further highlighted in a recent report - \"Resilient by Design\" - from the Institute for Public Policy Research. The report highlights the anticipated 100% dependence of the UK on imports of Anode materials in 2030 and details the impacts that supply chain disruptions would likely have. Europe is cited as a source of battery cell imports into the UK but the current lack of European anode manufacturing capacity is also noted. GAMP could therefore be of strategic importance for the UK as well as the rest of Europe.\n\"The report also highlights the importance of steel in the green energy transition - for example, it accounts for approximately 60% of a...