Talga wholly owns two advanced iron ore projects, Masugnsbyn and Vittangi, located in Norrbotten County, north Sweden, with combined total JORC Indicated and Inferred resources of 236Mt @ 31% iron ("Fe"). Both projects contain coarse grained skarn magnetite iron ore, which offers significant processing cost advantages compared to finer grained sedimentary style BIF magnetite deposits. Similar deposits in the area mine 25-45% Fe ores that beneficiate to 68-70% Fe concentrates with low deleterious elements.
The projects are strategically located in north Sweden, a mining province which hosts the largest iron mines in Europe, including the 2Bt Kiruna magnetite deposit, the world's largest, most modern underground iron ore mine. The province offers well developed transport and processing infrastructure including magnetite concentrators, pellet plants and pig iron mills with new mines currently under development.
Magnetite concentrate produced in north Sweden is transported via open access rail to the Norwegian port of Narvik and north Sweden port of Luleå, which currently ship a combined 27Mt of concentrate per year to customers in Europe, the Middle East and Asia.
The Company is seeking to divest these projects to concentrate funds on graphite/graphene developments.