Beowulf Mining Plc has lifted the iron ore estimates for its flagship Ruoutevare deposit in northern Sweden to as much as 250 million tonnes from the current 140 million. A resource of 250 million tonnes would extend the life of Ruoutevare, which means Iron Mountain to 25 years. Beowulf said it could start drilling at Ruoutevare this year and hopes to begin production in three to five years. Mr Clive Sinclair-Poulton Chairman of Beowulf Mining Plc said another upcoming report by Raw Materials Group on Beowulf Kallak iron ore deposit around 85km from Ruoutevare was expected to show a rise in its resource to 150 million tonnes from 120 million. The company said Beowulf is looking at constructing a processing plant at Ruoutevare, which would be able to process Kallak ore and to build a slurry pipe to carry the resulting concentrate to the Norwegian port of Narvik.
