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Bluelake Mineral announces results from life cycle assessment of the Rönnbäcken nickel project in Sweden

Bluelake Mineral AB (publ) ("Bluelake Mineral" and "the Company"), has as previously announced, via its Swedish subsidiary Nickel Mountain AB ("Nickel Mountain") entered into an agreement with consultant Minviro Ltd ("Minviro") to conduct a so called life cycle assessment ("LCA") including analysis of CO2 footprint and other environmental impact from Nickel Mountain's Rönnbäcken nickel project in Sweden (the "Project"). The LCA has now been completed and shows a promising potential for decarbonisation of the planned mining operations with use of new technology, natural sequestration via tailings and through other measures.

Minviro has completed a preliminary life cycle assessment ("LCA") for the Rönnbäcken nickel project in order to quantitatively assess the global warming potential ("GWP") associated with the proposed mining and processing operations. The main aim of the LCA was to highlight the key sources of greenhouse gas ("GHG") emissions, predominantly carbon dioxide ("CO2") to help develop a decarbonisation strategy for the Project in future. Minviro's approach has been to quantify the GWP (in terms of kilogrammes of CO2 equivalent, "kg CO2 eq.") in relation to 1 kg of nickel metal in concentrate (in the LCA referred to as the "functional unit"). The scope of the LCA (in the LCA referred to as the "system boundary") was confined to 'cradle-to-gate', i.e. up to the point of selling concentrate at the mine gate and not including processes subsequent to production of concentrate (such as concentrate transport, smelting, manufacturing and use of products). The GWP calculations were confined to scope 1 (direct site emissions from vehicles and machinery), scope 2 (emissions related energy consumption from the Swedish grid) and scope 3 (upstream indirect emissions relating to extraction and production of purchased materials and fuels). In addition to the production of emissions, the carbon sequestration potential of the processing waste material (tailings) was also considered. This is due to the mineralogy of the material being favourable for carbon mineralisation, where CO2 is sequestered from the atmosphere by reactions between CO2 and unstable minerals to form stable carbonate minerals; further details will be provided in the Preliminary economic assessment ("PEA") estimated to be completed later in February 2022.

Two main scenarios were considered for the LCA, which are also being assessed in the PEA:

  • "Base Case" - assumes that current technology is used at the start-up of operations (diesel-based mining fleet) before transitioning to electric vehicles after 10 years' operation; and
  • "Electrified Case" - assumes that electric vehicles can be utilized from start-up of operations.

The results were reported according to the international ISO 14040 and ISO 14044 standards. At this stage, a third party review has not been completed in order to compare the results with other similar operations. It is also noted that due to the inherent uncertainty of the input data at this stage of study, the results are preliminary and based on global averages and can be refined once detailed technical studies and direct quotes from manufacturers can be utilised.

The results of the LCA showed in the Base Case an expected GWP of 10.0 kg CO2 eq. per kg nickel in concentrate. This is split into three main areas: 3.8 kg from mining, 6.4 kg from processing and an offset of -0.2 kg from carbon sequestration. For the Electrified Case, the GWP was reduced by 25% to 7.5 kg CO2 eq. per kg nickel in concentrate purely through the reduction in emissions from diesel. In addition to diesel and electricity, the main contributors to GWP were from reagents (such as collectors and dispersants) used in the flotation process through embodied scope 3 emissions. The scope 2 emissions related to the energy usage are considered relatively low due to the high proportion of the grid fed by renewable energy sources such as hydroelectric and wind power.

"This study has provided valuable insight into the global warming potential of the mining and processing activities of the proposed operation and where we can focus efforts for a decarbonisation strategy. As part of further detailed technical studies electrification of the mining fleet along with sourcing of low-emission consumables will be investigated," says CEO of Bluelake Mineral Peter Hjorth.

Stockholm, February 2022
Bluelake Mineral AB (publ)
The Board of Directors

Publication of information

This information is inside information which Bluelake Mineral AB (publ) is required to publish in accordance with the EU Market Abuse Regulation. The information was submitted, for publication on February 11, 2022, at 08.40 am CET, by the contact person above.

Stockholm February 11, 2022

Additional information

For additional information, please contact:
Peter Hjorth, Managing Director, Bluelake Mineral AB (publ), phone +46-725 38 25 25
Email: [email protected] 

General information about the Company 

Bluelake Mineral AB (publ) is an independent Swedish company active in exploration and mine development of copper, zinc, nickel and gold resources.

The Company owns approximately 99% of the subsidiary Vilhelmina Mineral AB, which is focusing on development of copper and zinc deposits in the Nordic region. In Sweden, the Company owns Stekenjokk-Levi project, where a total of approximately 7 million tonnes of ore were mined between 1976 and 1988 with an average grade 1.5% Cu and 3.5% Zn. Stekenjokk-Levi is, according to a recent (November 2021) Mineral Resource estimate by SRK Consulting, contains Inferred Mineral Resources of approximately 6.7 million tonnes with 0.9 % Cu, 2.7 % Zn, 0.6 % Pb, 55 Ag g/t and 0.2 g/t Au for Stekenjokk and Inferred Mineral Resources of 5.1 million tonnes with 1.0 % Cu, 1.5 % Zn, 0.1 % Pb, 22 Ag g/t and 0.2 g/t Au for Levi (at a NSR cut-off of 60 USD/t). In Norway, the Company is owner in the Joma field, where approximately 11.5 million tonnes of ore were processed between 1972 and 1998 with an average grade of 1.5% Cu and 1.5% Zn. The Joma field (excluding Gjersvik) is, according to a recent mineral estimate by SRK Consulting, containing indicated mineral resources of approximately 6 million tonnes with grades amounting to 1.00 % Cu and 1.66 % Zn and inferred resources of 1.2 million tonnes with grades 1.2 % Cu and 0.7 % Zn (at cut-off of 50 USD/tonne).

In addition, the Company owns the nickel projects Rönnbäcken (which is Europe's largest known undeveloped nickel resource) and Orrbäcken in Sweden. According to the mining consulting company SRK, the Rönnbäcken project contains a mineral resource of 668 million tonnes with an average grade of 0.176% nickel ("measured and indicated"). The preliminary economic assessment that SRK completed predicts a production of 26,000 tonnes of high-grade nickel concentrate per year for 20 years, which would be a significant proportion of Sweden's total annual use of nickel which thereby has a strategic value. Orrbäcken is an exploration license that is considered to have potential as a nickel deposit.

The Company owns the gold project Haveri, through its subsidiary Palmex Mining Oy, which in 2014 carried out a so-called Preliminary Economic Assessment (PEA) prepared by SRK Consulting. This report estimates 1.56 million oz. historically inferred mineral resource of gold equivalents with a grade of 0.93 g/t gold.) Kattisavan is mainly considered to have potential as a gold resource and is located within the so-called gold line, close to projects such as Svartliden, Fäboliden and Barsele

Uppdatering kring processen rörande reguleringsplan för Jomagruvan i Norge

Bluelake Mineral AB (publ) ("Bolaget" eller "Bluelake Mineral") arbetar som tidigare meddelats via sitt norska dotterbolag Joma Gruver AS med tillståndsprocessen i Norge för genomförande av en s k planprocess och för att erhålla en godkänd reguleringsplan som är en detaljplan för industriområdet för den planerade gruvverksamheten i Joma i Røyrvik kommun i Trøndelag fylke. Med anledning av vissa tidigare administrativa handhavandefel har Røyrvik kommun sedan juni 2022 beslutat att överlåta ansvaret för den administrativa handläggningen av processen till den större grannkommunen Grong. Grong kommun kommunicerade i november 2022 en tidsplan för den fortsatta handläggningen och med ett möjligt mål att beslut om reguleringsplan skulle kunna tas i slutet av våren 2023 av ordförandeskapet i Røyrvik kommun. Grong kommun har nu meddelat att man i samråd med ordföranden i Røyrvik kommun beslutat att ytterligare möte enligt den s k konsultationsprocessen bör ske med det lokala renbetesdistriktet Tjåehkere Sijte innan dess reguleringsplanen kan tas upp till ny behandling. Ett sådant möte är nu planlagt till den 17 mars 2023. Grong kommun har ej meddelat en ny detaljerad tidsplan men kravet på ytterligare konsulationsmöte med Tjåehkere Sijte innebär med förseningar i förhållanden till den av Grong kommun tidigare kommunicerade tidsplanen.


Update regarding the zoning plan process for the Joma mine in Norway

Bluelake Mineral AB (publ) (the "Company" or "Bluelake Mineral") is, as previously announced, via its Norwegian subsidiary Joma Gruver AS, working with the permit process in Norway to implement a so-called plan program and to obtain an approved zoning plan which is a detailed plan for the industrial area for the proposed mining operations in Joma in Røyrvik municipality in Trøndelag county. Due to certain previous administrative handling errors, Røyrvik municipality decided in June 2022 to transfer responsibility for the administrative handling of the process to the larger neighboring municipality of Grong. In November 2022, Grong municipality communicated a timetable for the continued processing and with a possible objective that a decision regarding the zoning plan could be taken at the end of spring 2023 by the executive board of Røyrvik municipality. Grong municipality has now announced, in consultation with the chairman of Røyrvik municipality, that a further meeting according to the so-called consultation process should take place with the local reindeer herding district Tjåehkere Sijte before the zoning plan can be brought up for new consideration. Such a consultation meeting is now scheduled for March 17, 2023. Grong municipality has not announced a new detailed schedule, but the requirement for an additional consultation meeting with Tjåehkere Sijte means delays in relation to the schedule previously communicated by Grong municipality.


Bluelake Mineral upptar lån om 9 MSEK för finansiering av fortsatt projektutveckling, refinansiering av tidigare lån och för att stärka likviditet

Bluelake Mineral AB (publ) ("Bluelake Mineral" eller "Bolaget") har avtalat om att uppta ett lån om 9 MSEK ("Lånet") från privata investerare. Syftet med Lånet är att finansiera Bolagets och dess dotterbolags fortsatta projektutveckling, refinansiering av Bolagets tidigare lån som upptogs i juli 2022 samt för att stärka Bolagets likviditet.


Bluelake Mineral raises loan of SEK 9 million to finance continued project development, refinancing of previous loan and to strengthen cash position

Bluelake Mineral AB (publ) ("Bluelake Mineral" or the "Company") has raised a loan of SEK 9 million (the "Loan") from private investors. The purpose of the Loan is to finance the Company's and its subsidiaries' continued project developments, refinancing of the Company's previous loan that was raised in July 2022, as well as to strengthen the Company's cash position.


Fördelning av anskaffningsutgift avseende Bluelake Minerals utdelning av aktier i Mahvie Minerals

Bluelake Mineral AB (publ) ("Bluelake Mineral" eller "Bolaget") har i enlighet med beslut från extra bolagsstämma den 30 september 2022 genomfört en utdelning av Bluelake Minerals samtliga aktier i Mahvie Minerals AB (publ) ("Mahvie Minerals"). Avstämningsdagen för utdelningen var den 7 oktober 2022. Skatteverket har publicerat information om fördelning av anskaffningsutgiften med tillämpning av den s k lex Asea.


Distribution of acquisition cost related to Bluelake Mineral's distribution of shares in Mahvie Minerals

Bluelake Mineral AB (publ) ("Bluelake Mineral" or "the Company") has, in accordance with a resolution from the Extraordinary General meeting held on September 30, 2022, made a dividend in kind of all of Bluelake Mineral's shares in Mahvie Minerals AB (publ) ("Mahvie Minerals"). The record date was October 7, 2022. The Swedish tax Agency has published information on the distribution of the acquisition cost based on the so called Lex Asea.


Bluelake Mineral offentliggör delårsrapport tredje kvartalet 2022

Tredje kvartalet 2022 (juli - september)

  • Intäkterna för tredje kvartalet uppgick till 7,9 (0,0) mkr
  • Prospekterings- och utvärderingskostnader för tredje kvartalet uppgick till -0,8 (0,0)) mkr
  • Resultatet efter skatt för tredje kvartalet uppgick till 5,6 (-2,4) mkr
  • Resultatet per aktie för tredje kvartalet uppgick till 0,10 (-0,05) kr

Första nio månader 2022 (januari - september)

  • Intäkterna för första nio månader uppgick till 8,0 (0,7) mkr
  • Prospekterings- och utvärderingskostnader för första nio månader uppgick till -3,9 (-2,2 mkr)
  • Resultatet efter skatt för första nio månader uppgick till -2,0 (-12,1) mkr
  • Resultatet per aktie för första nio månader uppgick till -0,04 (-0,28) kr

Bluelake Mineral announces financial report for third quarter 2022

Third quarter 2022 (July - September)

  • Revenue in third quarter amounts to MSEK 7.9 (0.0)
  • Exploration and evaluation costs for third quarter amounts to MSEK -0.8 (0.0))
  • After-tax result for the third quarter amounts to MSEK -5.6 (-2.4)
  • Result per share for third quarter amounts to SEK 0.10 (-0.05)

First nine months 2022 (January - September)

  • Revenue in first nine months amounts to MSEK 8.0 (0.7)
  • Exploration and evaluation costs for first nine months amounts to MSEK -3.9 (-2.2)
  • After-tax result for the first nine months amounts to MSEK -2.0 (-12.1)
  • Result per share for first nine months amounts to SEK -0.04 (-0.28)

Uppdatering kring processen rörande reguleringsplan för Jomagruvan i Norge

Bluelake Mineral AB (publ) ("Bolaget" eller "Bluelake Mineral") arbetar som tidigare meddelats via sitt norska dotterbolag Joma Gruver AS med tillståndsprocessen i Norge för genomförande av en s k planprocess och för att erhålla en godkänd reguleringsplan som är en detaljplan för industriområdet för den planerade gruvverksamheten i Joma i Røyrvik kommun i Trøndelag fylke. Med anledning av vissa tidigare administrativa handhavandefel har Røyrvik kommun sedan juni 2022 beslutat att överlåta ansvaret för den administrativa handläggningen av processen till den större grannkommunen Grong. Grong kommun har nu kommunicerat en detaljerad plan för den fortsatta handläggningen och med ett möjligt mål att beslut om reguleringsplan ska kunna tas i slutet av våren 2023 av ordförandeskapet i Røyrvik kommun.


Mark- och miljödomstolen meddelar att tillstånd för gruvverksamhet inom Natura 2000-område vunnit laga kraft

Bluelake Mineral AB (publ) ("Bolaget" eller "Bluelake Mineral") har som tidigare meddelats via dotterbolaget Vilhelmina Mineral AB den 2 juni 2022 beviljats Natura 2000-tillstånd för gruvverksamhet. Länsstyrelsen i Västerbotten beslutade att bevilja Vilhelmina Mineral AB tillstånd enligt 7 kap. 28a § miljöbalken för gruvverksamhet i anslutning till och inom Natura 2000-området Vardo-, Laster- och Fjällfjällen (SE0810394) i Vilhelmina kommun. Beslutet har som tidigare meddelats överklagats av Vilhelmina södra sameby varefter de senare återkallat överklagan. Mark- och miljödomstolen vid Umeå Tingsrätt har idag meddelat att beslutet att avskriva målet inte har överklagats, vilket innebär att Vilhelmina Mineral ABs Natura 2000-tillstånd för gruvverksamhet har vunnit laga kraft och att beslutet ej längre kan överklagas.


Land and Environmental Court announces that the permit for mining activities in Natura 2000 area has gained legal effect

Bluelake Mineral AB (publ) (the "Company" or "Bluelake Mineral") has as previously announced, via its subsidiary Vilhelmina Mineral AB, been granted a Natura 2000 permit for mining operations on June 2, 2022. The County Administrative Board of Västerbotten granted Vilhelmina Mineral AB a permit in accordance with Chapter 7 Section 28a of the Environmental Code for mining activities in connection with and within the Natura 2000 area Vardo, Laster and Fjällfjällen (SE0810394) in Vilhelmina municipality. As previously announced, the decision has been appealed by Vilhelmina Södra Sami village, after which they later withdrew the appeal. The Land and Environmental Court at Umeå District Court has today announced that the decision to write off the case has not been appealed, which means that Vilhelmina Mineral AB's Natura 2000 permit for mining operations has gained legal effect and that the decision can no longer be appealed.


Bluelake Mineral deltar i Augment Mining Forum 2022

Bluelake Mineral AB (publ) ("Bluelake Mineral" eller "Bolaget") kommer den 13 oktober att delta på Augment Mining Forum 2022. Vid evenemanget, som hålls på GT30, Grev Turegatan 30, Stockholm, kommer sex nordiska junior mining-bolag att presentera sina verksamheter. Bluelake Minerals VD, Peter Hjorth, kommer att presentera bolaget med efterföljande frågestund mellan 10:30-11:00.


Bluelake Mineral participates in Augment Mining Forum 2022

Bluelake Mineral AB (publ) ("Bluelake Mineral" or the "Company") will participate on October 13 in the Augment Mining Forum 2022. At the event, held at GT30, Grev Turegatan 30, Stockholm, six Nordic junior mining companies will present their activities. Bluelake Minerals CEO, Peter Hjorth, will present the Company with a subsequent Q&A session between 10:30 and 11:00.


Bluelake Mineral genomför riktad nyemission

Styrelsen i Bluelake Mineral AB (publ) ("Bluelake Mineral" eller "Bolaget") har idag, med stöd av bemyndigande från årsstämman den 12 maj 2022, beslutat om en till en grupp privata investerare ("Investerarna") riktad nyemission av högst 1 395 349 aktier till en teckningskurs om 2,15 kronor per aktie, det vill säga till ett sammanlagt värde om cirka 3 MSEK ("Nyemissionen").


Bluelake Mineral conducts a directed share issue

The Board of Directors of Bluelake Mineral AB (publ) ("Bluelake Mineral" or "the Company") has today, with the support of an authorization from the Annual General Meeting held 2022-05-12, decided on a new share issue directed towards a group of private investors (the "Investors") of a maximum of 1,395,349 shares at a subscription price of SEK 2.15 per share at a total value of approximately MSEK 3 (the "Share Issue").


Mark- och miljödomstolen meddelar att Vilhelmina södra sameby valt att återkalla överklagan mot tillstånd för gruvverksamhet inom Natura 2000-område

Bluelake Mineral AB (publ) ("Bolaget" eller "Bluelake Mineral") har som tidigare meddelats via dotterbolaget Vilhelmina Mineral AB den 2 juni 2022 beviljats Natura 2000-tillstånd för gruvverksamhet. Länsstyrelsen i Västerbotten beslutade att bevilja Vilhelmina Mineral AB tillstånd enligt 7 kap. 28a § miljöbalken för gruvverksamhet i anslutning till och inom Natura 2000-området Vardo-, Laster- och Fjällfjällen (SE0810394) i Vilhelmina kommun. Beslutet har som tidigare meddelats överklagats av Vilhelmina södra sameby. Mark- och miljödomstolen vid Umeå Tingsrätt har dock idag meddelat att Vilhelmina södra sameby valt att återkalla överklagan.


Land and Environmental Court announces that Vilhelmina Södra Sami village has withdrawn appeal against permit for mining activities in Natura 2000 area

Bluelake Mineral AB (publ) (the "Company" or "Bluelake Mineral") has as previously announced, via its subsidiary Vilhelmina Mineral AB, been granted a Natura 2000 permit for mining operations on June 2, 2022. The County Administrative Board of Västerbotten granted Vilhelmina Mineral AB a permit in accordance with Chapter 7 Section 28a of the Environmental Code for mining activities in connection with and within the Natura 2000 area Vardo, Laster and Fjällfjällen (SE0810394) in Vilhelmina municipality. As previously announced, the decision has been appealed by Vilhelmina Södra Sami village. However, the Land and Environmental Court at Umeå District Court has today announced that Vilhelmina Södra Sami village has chosen to withdraw the appeal.


Mark- och miljödomstolen meddelar ytterligare två veckors frist för Vilhelmina södra sameby att komplettera överklagan mot tillstånd för gruvverksamhet inom Natura 2000-område

Bluelake Mineral AB (publ) ("Bolaget" eller "Bluelake Mineral") har som tidigare meddelats via dotterbolaget Vilhelmina Mineral AB den 2 juni 2022 beviljats Natura 2000-tillstånd för gruvverksamhet. Länsstyrelsen i Västerbotten beslutade att bevilja Vilhelmina Mineral AB tillstånd enligt 7 kap. 28a § miljöbalken för gruvverksamhet i anslutning till och inom Natura 2000-området Vardo-, Laster- och Fjällfjällen (SE0810394) i Vilhelmina kommun. Beslutet har som tidigare meddelats överklagats av Vilhelmina södra sameby. Tidsfristen för att komplettera överklagan gick ut den 30 september utan att komplettering inkommit. Mark- och miljödomstolen vid Umeå Tingsrätt har dock beslutat att ge Vilhelmina södra sameby ytterligare två veckors tidsfrist att komplettera överklagan.


Land and Environmental Court announces additional two-week deadline for Vilhelmina Södra Sami village to complete appeal against permit for mining activities in Natura 2000 area

Bluelake Mineral AB (publ) (the "Company" or "Bluelake Mineral") has as previously announced, via its subsidiary Vilhelmina Mineral AB, been granted a Natura 2000 permit for mining operations on June 2, 2022. The County Administrative Board of Västerbotten granted Vilhelmina Mineral AB a permit in accordance with Chapter 7 Section 28a of the Environmental Code for mining activities in connection with and within the Natura 2000 area Vardo, Laster and Fjällfjällen (SE0810394) in Vilhelmina municipality. As previously announced, the decision has been appealed by Vilhelmina Södra Sami village. The deadline for supplementing the appeal expired on September 30 without a supplement being received. However, the Land and Environmental Court at Umeå District Court has decided to give Vilhelmina Södra Sami village an additional two-week deadline to complete the appeal.


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