Unlock Premium Data: Up to 50% Off InvestingProCLAIM SALE

Sweden gives qualified go-ahead for northern Kallak iron ore mine

Published 22/03/2022, 14:09
© Reuters. FILE PHOTO: Climate activist Greta Thunberg speaks at a Fridays for Future march during the UN Climate Change Conference (COP26), in Glasgow, Scotland, Britain, November 5, 2021. REUTERS/Yves Herman
GHGUY
-

STOCKHOLM (Reuters) - Sweden's government gave a qualified green light on Tuesday to Britain's Beowulf Mining to proceed with plans for an iron ore mine in the far north that has been opposed by indigenous people over its environmental impact.

Beowulf can now start economic and environmental studies and apply to an environmental court to start processing ore, but it will have to meet a range of environmental and other conditions which the government attached to its approval.

Critics say the mine in Kallak, also know as Gallok, would endanger a protected ecosystem and block reindeer migration.

"I think there will be a mine here," Enterprise Minister Karl-Petter Thorwaldsson told reporters. "I would say the biggest obstacle is the environmental study, because that is quite complicated in Sweden."

Thorwaldsson said there were a range of regulatory steps for the company to pass before the mine could start operations.

© Reuters. FILE PHOTO: Climate activist Greta Thunberg speaks at a Fridays for Future march during the UN Climate Change Conference (COP26), in Glasgow, Scotland, Britain, November 5, 2021. REUTERS/Yves Herman

Plans for the mine have been opposed by the indigenous Sami people, who have the backing of U.N. rights experts and the U.N. cultural organisation UNESCO, as well as climate-change activist Greta Thunberg.

"Sweden pretends to be a leader for environment and human rights, but at home they violate indigenous rights and continue waging a war on nature," Thunberg said on Twitter (NYSE:TWTR) after the government's decision. "The world will remember this."

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.