Beowulf has agreed to a deal over the potential future supply of iron ore concentrate from its Ruoutevare project in Sweden. The deal arose during a recent visit to China by Mr Clive Sinclair Poulton chairman of Beowulf who signed a non-binding letter of intent with Shanghai-based China Hua Dong Corp. Ltd. Beowulf had commissioned further metallurgical tests on material from its 100% owned Ruoutevare magnetite-ilmenite deposit from MINPRO AB’s research laboratory at Stråssa in Central Sweden. Previous results have confirmed that by applying reduction techniques in a laboratory scale simulation of a mechanical oven, it is possible to fully extract iron, titanium and vanadium from the Ruoutevare titanium-magnetite ore.
