Investment opportunities in mining North Sweden. Regional Partner

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1 Investment opportunities in mining North Sweden 2010

2 Swedish Mining - Mining history and brief info

3 Mining Industry in Sweden One of the most mineralized and yet underexplored mining regions in the world Most effective mines in the world Free access to the world s largest drill core archive and related services Europe s dominating ore producer

4 Cont. Mining Industry in Sweden Good cross border co-operation between Norway, Finland and Russia mining districts Local access to national and international mining institutions Skilled labor R&D at a competitive level

5 Swedish mining history Sweden has a history of mining and metal refining stretching back more than a thousand years. The oldest Ltd. company in the world is the Swedish copper producer Stora Kopparberg Our metal ore and other mineral resources, and knowledge about how to use them, have been major factors in building the prosperity that Sweden enjoys today.

6 Leading producer of ores and metals in the EU # 1 Producer of iron ore and lead # 2 Producer of gold, zinc and silver # 4 Producer of copper Sweden has Europe s most active exploration and new mines are being opened 39 new mining concessions granted between

7 Leading producer of ores and metals in the EU (Source: Bergsverksstatistics 2011)

8 Production of gold and silver (Source: Bergsverksstatistics 2011)

9 Contents of metals mined in Sweden (Source: Bergsverksstatistics 2011)

10 Production of ores in Sweden (Source: Bergsverksstatistics 2011)

11 Production of ores in Sweden (Source: SGU Jan Magnusson - Bergforsk May 2012)

12 Mining in Sweden today Excellent mining infrastructure, with highly advanced mining and metallurgy R&D. Sophisticated technology with a high level of automatisation. Swedish mines are among the most efficient and profitable in the world. Mining industry is booming in Northern Scandinavia Some of the world s most liberal mineral laws Northern Sweden is Europe s most mineralized area. Photo: Atlas Copco

13 Invest in mining in Sweden Fraser Institute ranks Sweden as number 1 in the world 2013 when it comes to suitability for mining investments Said about Sweden in the ranking: No hurdles, investment friendly, proactive. No corruption. Obvious law, clear processes, and regulations. Winner. No time wasting. - An exploration company, Vice president. Mining culture and history, trained workforce, exceptional infrastructure, good regulatory processes, underexplored, known world class mineral deposits. - An exploration company, Company president

14 Future Investments until European High North Total Investments rated AAA 124,867 Billion EURO Of which mining investments are 17,371 Billion EURO And oil and gas 39,300 Billion EURO Other investment areas in Sweden are: Renewable Energy, Tourism, Trade and Transport Infrastructure (Source : Lapland Chamber of Commerce 2012)

15 Education and R&D Luleå University of Technology Sweden s no.1 mining university with world-class research and education. Master Programs related to mining; Civil Engineering, with specialization in mining and Geotechnical Engineering Material Engineering and Environmental Geosciences Mining Research: Soil Mechanics and Foundation Engineering Rock Mechanics and Rock Engineering Complab for material and structural testing Environmental Research Lab for waste and rest material testing Waste treatment Landfill Soil sanitation Environment informatics

16 Education and R&D Nordic Mining School The Nordic Mining School is a joint venture between the Universities in Luleå (Sweden) and Oulu (Finland). The excellent cooperation with the mining industry introduce students to all aspects of mining and metallurgy on site.

17 In-house R&D in larger mining companies R&D division limited within exploration/geology R&D, now ramping up. Hitherto not focused on exploration but ore characterization R&D. Focusing on R&D within exploration In Sweden direct funding from mining companies to universities in economic geology around Euros/year In September 2012, the government announced an additional funding of 25 MEUR for R&D in Mining

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19 permits Province New Extended Area (ha) Norrbotten Västerbotten Dalarna Jämtland Örebro Sweden total % of the total number of permits are in the North of Sweden 80% of the total area permitted is in the North of Sweden (Source: Swedish Mining Directory Anual Report 2011 & Bergverksstatistik 2012)

20 Claim certificates and exploration permits (Source: Bergsverksstatistics 2011)

21 Value of exploration (Source: Bergsverksstatistics 2011)

22 permits Company September December Number Permits Area (ha) Number Permits Area (ha) Blackstone Nickel AB Shell and Production AB Boliden Mineral AB Drake Resources Ltd Continental Precious Minerals Inc Northland Resources AB+N Expl S AB Tethys Oil AB AB Igrene Norrsken Energy Ltd Luossavaara-Kiirunavaara AB Lappland Goldminers AB+LG Sorsele Aura Energy Ltd Wiking Mineral AB Teck Cominco Sweden Ltd Norrland Resources Ltd Beowulf Mining PLC

23 permits cont. Company September December Number Permits Area (ha) Number Permits Area (ha) Mawson Energi AB Metal Mines Sweden AB Dannemora Mineral AB Kupalo Holdings Ltd Eastern Highlands AB Hans A Resources Sweden AB Grängesberg Iron AB Viking Gold & Prospecting AB Botnia AB Mineralbolaget i Stockholm AB Nordic Mines AB Avalon Minerals Viscaria AB Tasmet AB Gunnarn Mining AB Nordic Iron Ore AB

24 First hand choice mineral for exploration permits 2009 Dito, % Fe Cu Au Ag Zn Pb Ni Mo W 1 0, Mn Pt 1 0,5 Li 3 1 U alum shale nefelinsyenit 3 1 gas diamond Total

25 and mining companies in Västerbotten Avalon Minerals, Australia Arctic Gold Botnia Blackstone Ventures Björkdalsgruvan/Elgin Mining, Canada Boliden Continental Precious Minerals, Canada Dragon Mining, Australia Eurasian Minerals, USA Euro Scandinavian Uranium Geoforum Scandinavia Gungnir, Canada Horizon Blue Lappland Goldminers Mawson Resources, Canada Niili Mineral Northland Resources Mining Mining and metallurgy and mining and mining

26 and mining companies in Västerbotten - Cont. IGE/Nickel Mountain, Sweden Nordic Mines Northfield / Vilhelmina Minerals Orex Minerals Scandinavian Metals/ Metal Mines, Canada Scandinavian Resources Ltd SEQ Mining Tertiary Minerals Viking Gold, Australia Wiking Mineral and Mining

27 Mining

28 Mines in Sweden New and granted applications for mining concessions New applications Granted applications (Source: Bergverksstatistics and Geological Survey of Sweden) Mines in Sweden 2012

29 Mines in Finland August 2013 Precious Metals 1. Iso-Kuotko gold - Agnico-Eagle Ltd 2. Hanhimaa gold - Dragon Mining Ltd 3. Kittilä gold - Agnico-Eagle Ltd 4. Kettukuusikko gold - Taranis Resources Inc. 5. Naakenavaara gold - Taranis Resources Inc. 6. Pahtavaara gold - Lappland Goldminers Ab 7. Rompas gold, uranium - Mawson Resources Ltd 8. Suhanko-Konttijärvi PGE - Gold Fields Arctic Platinum Oy 9. Kuusamo gold - Dragon Mining Ltd 10. Laiva gold - Nordic Mines Ab 11. Antikanperä, gold - Belvedere Resources Finland Oy 12. Hirsikangas gold - Belvedere Resources Finland Oy 13. Ängesneva gold Belvedere Resources Finland Oy 14. Kopsa gold - Belvedere Mining Oy 15. Piilola gold - Mineral Network (Finland) Ltd 16. Taivaljärvi silver - Sotkamo Silver AB 17. Pampalo gold - Endomines Oy 18. Hattu Belt gold - Endomines Oy 19. Seinäjoki gold, antimony - Nortec Minerals Corp. 20. Osikonmäki gold - Belvedere Resources Finland Oy 21. Orivesi gold - Dragon Mining Ltd 22. Jokisivu gold - Dragon Mining Ltd 23. Kaapelinkulma gold - Dragon Mining Ltd Base Metals 1. Riikonkoski copper, gold - Taranis Resources Inc. 2. Kevitsa nickel, copper, PGE - First Quantum Minerals Ltd 3. Sakatti nickel, copper, PGE - AA Sakatti Mining Oy 4. Läntinen Koillismaa (LK) nickel, PGE Finore Mining Inc. 5. Kuhmo nickel - Altona Mining Ltd 6. Kuhmo nickel - Anglo American B.V. 7. Talvivaara nickel, zinc, copper - Talvivaara Mining Co. 8. Hitura nickel - Belvedere Mining Oy 9. Pyhäsalmi zinc, copper, pyrite - First Quantum Minerals Ltd 10. Kylylahti copper, gold, zinc, nickel, cobalt - Altona Mining Ltd 11. Hammaslahti copper - FinnAust Mining Plc 12. Valkeisenranta, Särkiniemi nickel, copper - Altona Mining Ltd Diamonds 1. Kuusamo - Sunrise Resources Plc 2. Kuhmo - Karelian Diamond Resources Plc 3. Kaavi-Kuopio - Sunrise Resources Plc 4. Kaavi - Mantle Diamonds Ltd & Firestone Diamonds Developments JV Other commodities 1. Kolari iron, gold, copper - Northland Resources Ab 2. Kemi chromium - Outokumpu Chrome Oy 3. Ranua uranium - Euro Scandinavian Uranium AB 4. Mustavaara vanadium - Mustavaaran Kaivos Oy 5. Nuottijärvi uranium - Euro Scandinavian Uranium AB 6. Otanmäki vanadium, iron, titanium - Vuorokas Oy 7. Riutta uranium - Euro Scandinavian Uranium AB (Source: Geological Survey of Finland)

30 Mines and resources in Norway

31 Operating mines in Sweden 2011 Mine Municipality Company Mineral Operating since Kiirunavaara Kiruna Luossavaara-Kiirunavaara Fe 1860 s Malmberget Gällivare Luossavaara-Kiirunavaara Fe 1820 s Aitik Gällivare Boliden Mineral Cu Au Ag 1968 Björkdal Skellefteå Björkdalsgruvan Au 1989 Renström Skellefteå Boliden Mineral Cu Zn Pb Ag Au 1948 Maurliden Norsjö Boliden Mineral Zn Au Ag Cu Pb 2000 Blaiken 1) Sorsele Lappland Goldminers Zn Au Ag Pb 2006 Svärtträsk 1) Storuman Lappland Goldminers Zn Pb Ag 2006 Kankberg Skellefteå Boliden Mineral Au Te 2012 Kristineberg Lycksele Boliden Mineral Cu Pb Zn Au Ag 1940 Svartliden Lycksele/Storuman Dragon Mining (Sweden) Au Ag 2004 Garpenberg Hedemora Boliden Mineral Cu Zn Au Ag Pb 13th Century Lovisagruvan Lindesberg Lovisagruvan Zn Pb 1993, 2004 Zinkgruvan Askersund Zinkgruvan Mining Zn Pb Cu Ag Au Co Ni 18th Century Vram Bjuv Höganäs Bjuf Fireclay 1797 Lunnom Bjuv CC Höganäs Byggkeramik Clay 1748 (Source: Geological Survey of Sweden)

32 Active large mines in Sweden Active mines Metallogenic area When minded Resources Mt Reserves Mt Mined Mt Total Mt Aitik Aitik-Nautanen Kirunavaara Kiruna Malmberget Gällivare-Malmberget Garpenbergsfältet Northern Bergslagen Gruvberget Fe Vittangi , Zinkgruvan Southern Bergslagen Kristineberg Skellefteå Renström Skellefteå

33 Mining industry in Västerbotten Mining products Alimak Hek Atlas Copco CMT Bergteamet Borr & VVS-Service i Västerbotten Brokk Desrock GGB Jama Malå Geoscience Metso Minerals Scandinavian Explosives (Orica) Procraft Lifts for mines (HQ) Mining machinery sales and service Drilling services (HQ) Drilling and VVS services Demolition robot manufacturing (HQ) Drilling equipment Processing equipment Mining machinery/maintenance (HQ) Ground penetration radars (HQ) Mining machinery manufacturing Blasting products Rubber products (HQ) Photo: Atlas Copco

34 Engineering, service and software ABB Underground Mining Services ARRC Geoconsulting Charlie s Brunns- o Energiborrning CL Prospektering Datapolarna Enetjärn Natur Envix Explizit DDMC Drillex Geonova Consulting Komab Outotec Pelagia Proing Prorok Prospekteringsteknik Norr Rockma Simmine SRK Consulting SweMine Consulting Process Controls Engineering services (HQ) Drilling services Engineering services (HQ) Mining software (HQ) Consulting Services (HQ) Consulting Services (HQ) Mining software (HQ) Drilling engineering services (HQ) Drilling services and software Surveying & environmental services (HQ) Engineering Services (HQ) Metal processing engineering services Consulting Services (HQ) Consulting Services (HQ Mining software (HQ) Drilling Services and sampling (HQ) Mining software and Drilling Services(HQ) Mining Software (HQ) Consulting Services Consulting Services

35 Mining industry in Västerbotten cont. Other related mining industry Georange Guldriket Luleå University of Technology SGU Cluster cooperation organisation Gold related tourism destination service R & D and education related to mining Geological Survey of Sweden

36 Sweden and Västerbotten in short

37 The Nordic Countries, one of the ten largest economies in the world Total population of the Nordic countries is approx. 26,000,000 The Nordic GDP is Euro 1,088 Billion, which makes it the tenth economy in the world The Nordic GDP per person is higher than in Japan, USA and Europe Source: Norden i tal 2012

38 Sweden in the northern European region 100 million consumers Intra-regional trade All countries in the region, except Russia and Norway, are members of the EU The largest market, centrally placed geographically Native speakers from the whole region Preferred location for regional headquarters

39 Swedish business climate One of the most competitive and globalized countries in the world 1 Stable national economy A tradition of export and international trade Excellent access to skilled and cost competitive labor market 2 Favorable corporate taxation climate (decision taken in September 2012 to further lower rate to 22%) One of the lowest electricity costs for industrial consumer in Europe 3 Very active industry-academia collaboration 4 1 World Economic Forum Index 2 IMD, U.S. Department of Labor, Watson Wyatt 3 Eurostat 4 World Economic Forum

40 Sweden in the top - Sweden and the Nordics stand out globally

41 Increase in GRP Norrbotten Halland Jämtland Västerbotten Stockholm Uppsala Södermanland Riket Örebro Skåne Kronoberg V. Götaland Östergötland Dalarna Gotland Kalmar Västernorrland Gävleborg Västmanland Värmland Jönköping Blekinge 0% 10% 20% 30% 40% 50% 60% 70% 80%

42 Grow your business via Västerbotten - Discover Europe s most mineralized area

43 What VIA can do for you The province of Västerbotten welcomes new investments and Västerbotten Investment Agency is ready to help you in a multitude of ways. Companies establishing businesses in Västerbotten can apply for financial and employment incentives from the government. We are looking forward to working with you and addressing your specific goals and questions! Anders Wangby Director Phone direct Mobile [email protected]