Nordic Iron Ore AB (hereinafter Nordic Iron) has applied for support for connection of industrial railyard to the state main railroad line and certain additional measures in the state main railroad line for a total amount of SEK 120 million. The reference group for the Näringslivspotten is rejecting support for the project of SEK 120 million but is approving conditional support of SEK 40 million.
As part of the preparations for Nordic Iron's planned mining in Blötberget, Ludvika Municipality, the company has applied for support for connection of its planned industrial railyard to the state main railroad line and certain additional measures in the state main railroad line for a total amount of SEK 120 million from the so-called Näringslivspotten, which is administered by the Swedish Transport Administration. Nordic Iron is intended to be the sole user of the connected infrastructure.
The Reference Group for the Näringslivspotten rejects support for the project of 120 million SEK but approves conditional support of 40 million SEK.
The first condition is that Nordic Iron's ongoing pre-feasibility study, which is expected to be completed during the current year, provides sufficiently good conditions for both financing and feasibility. In order for the connection to be implemented, Nordic Iron has to solve the remaining financing of the connection, i.e. the remaining approx. 80 million SEK, in another way.
The second condition is that the Government decides on a new plan for the state infrastructure 2026-2037 where funds are allocated for minor measures in the state railway infrastructure in the form of the Business Pot and that annual funds are made available to the Swedish Transport Administration for this. This is expected to happen during the first half of 2026.
The above means that Nordic Iron, in collaboration with the relevant parts of the Swedish Transport Administration, is expected to return with an updated timetable and financing plan for the project during the first half of 2026.
Nordic Iron plans to produce an ultra-high-grade iron ore concentrate with a low carbon footprint, with a focus on fossil-free iron and steel production. Nordic Iron also aims to produce a byproduct with high levels of phosphorus and rare earth elements, which contribute to society's green transition.
The Reference Group for the Näringslivspotten expresses both its approval and positive attitude towards new mineral extraction.
For more information, please contact:
Ronne Hamerslag
Chief Executive Officer
Telephone: +46 (0)240 88 301
E-mail: ronne.hamerslag@nordiciron.se
About Nordic Iron
Nordic Iron is a mining company focused on the Ludvika region. The company plans to produce an ultra high-grade iron ore concentrate with a low carbon dioxide footprint, with a focus on fossil-free iron and steel production. Nordic Iron is actively pursuing critical raw materials like phosphorus and rare earth elements as possible by-products, contributing to society's green transition.
For more information, see www.nordiciron.se.
Nordic Iron Ore's shares and warrants are listed at Nasdaq First North Growth Market. Wildeco is the company's Certified Adviser
This information is information that Nordic Iron 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 2025-10-27 11:30 CET.