Vilhelmina Mineral is active in exploration and mining development in the Nordic region mainly copper and zinc. The company is currently focusing on the Swedish Stekenjokk project and the Joma project in Norway.
In the case of Stekenjokk, a revised application for exploitation concession has been submitted to the authorities. As for Joma, the first step in the Norwegian equivalent of exploitation concession has been obtained (“utvinningsrett”).
The business is organized in the Swedish parent company Vilhelmina Mineral AB (publ) and in the majority-owned Norwegian subsidiary Joma Gruver AS.
The company’s business is to identify, acquire and develop interesting mineral projects up to mine start and to either run the mine in collaboration with a larger industrial partner or sell the project to such a partner. The focus is on the development of base metal projects in the Nordic region.
The primary objective is to put at least one mine into operation within 4-7 years or sell the project to an industrial buyer creating substantial shareholder value. In addition, the company strives to build a broad portfolio of first-class base metal projects, which have the potential to result in start of mining operations.
The company’s strategy involves:
- Focus on base metals in the Nordic region
- Acquire projects in the early stages with existing mineral resources and with good potential to increase total resources – e.g. in areas with previous mines (“brown field” situations)
- Current focus is on the Swedish projects Stekenjokk and Levi and on the Joma project in Norway
- Development of Joma as a central hub for processing and waste handling
- The other mineralisations are satellite projects where the ore is transported to the central enrichement plant in Joma
- Identify, acquire and develop additional projects to increase total mineral resources
- In connection with start of mining operations, invite larger industrial partner as co-investor