Today, the governments of Sweden and Finland approved that Nord Stream can lay down pipelines for transporting natural gas through their economical zones of the Baltic Sea. This means that Minelco's deliveries of Magnetite products will speed up
The two pipelines will be a direct Russian supply link to European customers via the Baltic Sea. Each line is approximately 1,220 kilometres long. In August, 2008, Minelco signed the largest contract ever for supply of the heavy aggregate Magnetite, Minelco MagnaDense, to be used for coating of pipes for the Nord Stream pipeline project. The customer is EUPEC France who bought about 1.5 million tonnes. The deliveries that started already in the autumn of 2008 will now speed up. "We will from now on deliver about 50 thousand tonnes per month until the autumn of 2011," says Lars Vikström, Sales Manager of Minelco AB.