Business
Management Update
Management Update.
About this update from Beowulf Mining Plc
[{"type":"text","content":"\n \nRNS Number : 4044X Beowulf Mining PLC 19 December 2019 \n\n \n \n19 December 2019\nBeowulf Mining plc\n(\"Beowulf\" or the \"Company\")\nManagement Update\nBeowulf (AIM: BEM; Spotlight: BEO), the mineral exploration and development company, provides a management update on the Company's application for an Exploitation Concession for the Kallak Iron Ore Project (\"Kallak\"). The CEO has written again to Mr. Ibrahim Baylan, the Minister of Enterprise and Innovation.\n \nIn the letter to the Minister, the CEO made the following points:\n \n· Two and half months have passed without any new information on what is happening, since the Minister wrote in his letter, dated 30 September 2019, that a decision by the Government on Beowulf's application was 'forthcoming'. The CEO has requested that the Government provide Beowulf with details on when the Company can expect the decision on Kallak to be taken.\n· It seems evident that the coalition Government has been struggling to reach consensus on Kallak and that politics are standing in the way of a decision being taken. Yet, we have heard before, from the Government, that Swedish law is sufficient for assessing the Kallak application and that any assessment of Kallak should be 'by the book'. \n· To ensure that the Government has been provided with all relevant facts, the Company submitted a concluding statement for Kallak to the Government on 8 November 2019, prepared by the law firms Mannheimer Swartling and Fröberg & Lundholm. The statement summarised all circumstances relevant to a judicial review of whether the Company should be awarded the Exploitation Concession for Kallak. The statement demonstrates that the Government has sufficient facts for an Exploitation Concession to be awarded.\n· Sweden's attractiveness as a destination for investments in mining has been decreasing over several years. Mining analysts and journalists continue to comment on the inability of its authorities to decide on mining applications, while having allowed companies to explore for minerals and make significant investments. \n \nKurt Budge, Chief Executive Officer of B...