Stocks & Investing
Stocks and Investing
Stocks and Investing
Wed, May 16, 2012
May 16, 2012 05:48 ET
Northland Announces New Board Appointment
LUXEMBOURG, LUXEMBOURG--(Marketwire - May 16, 2012) -Northland Resources S.A. (TSX:NAU)(OSLO:NAUR)(OSLO:NAUR.R)(FRANKFURT:NPK) ("Northland" or "the Company") announces that Carl-Michael Raihle was elected to the Board of Directors at the Annual General Meeting in Luxembourg, May 16, 2012.
Carl-Michael Raihle has vast experience from the metal industry and has held several senior management positions. He is currently President of Ovako Tube & Ring, a Swedish specialty steel producer, since December 2011 and also President and owner of the consulting firm Creation since September 2011. Prior to that, Mr. Raihle served as Executive Vice President and Chief Technology Officer of the Luvata group, a Finnish metal component producer. Between 2003 and 2005 he was President of Outokumpu Fabrication Technologies. He has also held several senior positions with Process Automation, Outokumpu Copper Products and Outokumpu American Brass.
Mr. Raihle holds a PhD. in Metallurgy from Kungliga Tekniska högskolan in Stockholm.
The appointment of Mr. Raihle as a board member is effective as of today, May 16, 2012.
Matti Kinnunen, Tuomo Mäkelä, Stuart Pettifor and Birger Solberg were reelected as Board members. Anders Hvide was reinstated as Chairman of the Board.
Anders Hvide, Executive Chairman
Northland Resources S.A.
Northland is a development-stage mining company with a portfolio of iron ore projects in northern Sweden and Finland. The Company's Kaunisvaara Project will initially exploit two magnetite iron ore deposits in Sweden. The process will yield a high-grade, high-quality magnetite iron concentrate. The construction of the Kaunisvaara project in Sweden is well underway and mining is planned to start in the fourth quarter of 2012. Northland has entered into off-take contracts for the entire production from Kaunisvaara. The Company is also preparing a Definitive Feasibility Study ("DFS") for its Hannukainen Iron Oxide Copper Gold ("IOCG") Project in Kolari, northern Finland and for its Pellivuoma deposit 15 km from the Kaunisvaara process plant.
