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LONDON (Alliance News) - Beowulf Mining PLC Monday said it has written a second letter to authorities in Sweden after receiving no response regarding the concession for the Kallak North project for over six months.
The mining inspectorate of the country recommended the concession for the project should be awarded to the company over six months ago, but neither the Swedish government nor the minister for enterprise and innovation has issued any response to the company since.
Beowulf said its application is satisfactory and feels it has addressed all of the potential issues with the project, including the effect it will have on the local reindeer herding businesses, which has been a problem for the company throughout the process.
"We have left no stone unturned in addressing concerns with our application for an exploitation concession for Kallak North, respecting and listening to our stakeholders, showing our desire to become a strong local partner in the future economic growth of Jokkmokk, and demonstrating a responsible approach to the future development of Kallak," said Chief Executive Kurt Budge.
"We are aware that the Swedish government is reviewing several applications and that ours may not be the priority, but we have decided to write again to the government, as it is difficult for a company, such as Beowulf, to have a business critical decision looming and have limited insight into either the decision making process or when a decision can be expected," he added.
Beowulf shares were down 6.3% to 3.89 pence per share on Monday.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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