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The company already owns and operates a Canadian iron ore mine. 5:58 pm, Jan. 14, 2021 ×
A Grand Rapids-based mining company has bought its second foreign iron ore mine.
Tacora Resources announced Thursday it had completed the acquisition of Sydvaranger Mining AS, an iron ore mine and processing plant in Sor-Varanger, Norway, that has not operated since 2015. The purchase price was not disclosed, but was paid for in the form of shares in Tacora, the company said in a news release. With this acquisition, we bring together two responsible mining companies with capacity to produce an iron ore concentrate with characteristics very desirable to steelmakers, Thierry Martel, the president and CEO of Tacora, said in the release. The Sydvaranger Mine builds upon our strategy to deliver high-grade iron ore products to steelmakers globally allowing them to produce more steel per tonne (metric ton, or 1,000 kilograms) of raw material input and therefore reduce their environmen