This EU-funded project is hugely important to NIO and for Europe’s supply of iron ore in the future. The EU grant comes from EU programs ERA MIN, a mineral resource oriented part of the European research network ERA-NET via the call “Sustainable Supply of Raw Materials in Europe”. The study will be conducted in cooperation with the several industries, including Nordic Iron Ore in Ludvika, the Norwegian industrial group Yara International, which operates in the agricultural chemicals and fertilizers, the Geological Survey of Finland and the study will also be financed partly by state innovation agency Vinnova and SGU Geological Survey of Sweden.
ERA-MIN initial findings support the development of Nordic Iron Ore’s project. ERA-MIN has issued a presentation of their initial findings of their downhole physical properties measurements. It concludes that the seismic reflection survey showed a strong response to the mineralised zone and that the data gathered by NIO and the seismic work of ERA-MIN show a good correlation. Data from this work will provide a significant contribution to NIO’s next stages of the development – namely the mine planning and scheduling.