London-listed Beowulf Mining faces the prospect of having to engage with a third Minister over the development of its Kallak iron-ore project, in Sweden, following the announcement last week that Enterprise Minister Ibrahim Baylan would retire.
Beowulf CEO Kurt Budge said in a letter addressed to Baylan that the prospect of having to deal with another Minister in a six-year period was of “great concern” to him.
Budge urged Baylan to take a decision on Kallak before leaving office, making it possible for the company to take the project forward.
“It is 18 months since we both attended the Mining Nordic Day in Toronto in early March 2020, at which event you saved your biggest welcome for investors. I reminded you that Beowulf has been invested in Sweden and working on Kallak since 2006. You also said that I was welcome to do business in Sweden.
“It continues to be the case, that Beowulf is unable to do business in Sweden, because we cannot get a decision on Kallak and play our part in the country’s sustainable mining future,” Budge said.
Beowulf applied for an exploitation concession eight years ago and has since been struggling to move permitting across the finish line.