Northland Resources S.A. (NAU.TO) is nearly 5% higher today at $1.29 a share after local officials in Narvik, Norway, approved a construction permit allowing the company to begin work on a new iron ore terminal on the Barents Sea coast.
The company previously signed an agreement with the Port of Narvik, securing a lease for the area south of the city where it intends to build the facility. The terminal is being designed to load vessels with capacities of up to 180.000 tons and will also consist of a quay, an unloading facility for the railcars, a storage building and a ship loader.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
