On 6 March 2023, GRANGEX AB (publ) ("Grangex") announced the execution of a US$10,000,000 royalty agreement with Anglo American Marketing Limited ("Anglo American"), pursuant to which Anglo American were granted life-of-mine royalty payments on sales from Dannemora Iron AB ("Dannemora" and the "Dannemora Royalty", respectively).
On 6 May 2024, Grangex announced the execution of a US$17,500,000 royalty agreement with Anglo American, pursuant to which Anglo American were granted life-of-mine royalty payments on sales from Grangex Sydvaranger AS ("Sydvaranger" and the "Sydvaranger Royalty", respectively). Under the terms of Sydvaranger Royalty, Anglo American has the right to transfer the Dannemora Royalty, whereby the payment made by Anglo American under the Dannemora Royalty will be consolidated with the payment made under the Sydvaranger Royalty.
On 17 February 2025, Grangex received notification that Anglo American wishes to exercise the above-mentioned transfer right.
As a result, the payments made by Anglo American under the Sydvaranger Royalty will now amount to US$27,500,000. Dannemora will be released from all obligations under the Dannemora Royalty, and all securities held by Anglo American in respect of the Dannemora Royalty will be released.
Contacts
Christer Lindqvist, Chief Executive Officer, phone +46 70 591 04 83
About Us
GRANGEX is a Swedish mineral development company with the vision to actively contribute to a sustainable society within Europe. The company strives to become the foremost mineral development group in Europe, developing and conducting responsible extraction and recycling of minerals, primarily iron ore products and other critical minerals for the green transition. Through its products, GRANGEX will contribute to a reduced climate impact while minimising its own environmental and climate impact.
The company's share (short name GRANGX) is traded on Nasdaq First North Premier Growth Market Stockholm, with G&W Fondkommission as Certified Adviser.
ISIN: SE0018014243
For more information www.grangex.se/
This information is information that GRANGEX AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-02-17 18:15 CET.
