Beowulf reports positive test-work results from Kallak Project

The AIM-traded firm said the test-work confirmed the production of a high-grade, low impurity iron ore concentrate, ideal for the Green Steel sector.

It said the metallurgical testing demonstrated that Kallak could produce iron ore concentrate with over 68% iron content and less than 3.7% silica and 0.23% alumina.

The concentrate could be further upgraded to over 70% iron content with approximately 2% silica.

Beowulf said the results built on previous test-work conducted between 2013 and 2021, reinforcing the potential for Kallak to deliver a highly desirable product.

The testing included comminution, mineralogical studies, magnetic separation, and further upgrading processes.

It said the findings supported the assumptions used in the ongoing pre-feasibility study (PFS) for Kallak and had defined the preliminary processing flowsheet for the project.

“The metallurgical test-work has confirmed that Kallak can produce an exceptionally high grade, low impurity concentrate,” said chief executive officer Ed Bowie.

“Furthermore, this concentrate can be upgraded to a grade of over 70% iron with low levels of silica, a product that would be well suited for use as feedstock for modern, lower-carbon emitting steelmaking practices including the direct reduced iron - electric arc furnace route.”

Bowie said the indicative process flowsheet also had a number of significant advantages - using conventional technology and only physical separation with no flotation; and producing a single product.

“The results of this test-work have now been passed to our process engineers who will design the full industrial flow sheet with appropriate equipment sizing.

“We look forward to providing the market with further updates.”

At 0950 BST, shares in Beowulf Mining were up 4.17% at 25p.

Reporting by Josh White for Sharecast.com.