Grangex
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Grangex (GRANGEX) investor relations material

Grangex Investor presentation summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Investor presentation summary27 Jan, 2026

Strategic vision and market positioning

  • Aims to be Europe's leading sustainable mineral developer, supplying ultra high-grade direct reduction iron ore for green steel production and driving innovation in extraction and recycling.

  • Focuses on redeveloping brownfield assets, with immediate priority on restarting the Sydvaranger Mine in Norway and Dannemora Mine in Sweden.

  • Secured a 100% life-of-mine offtake agreement with Anglo American for Sydvaranger, ensuring stable demand and price transparency.

  • Positioned to benefit from global steel demand growth, decarbonization trends, and EU carbon border regulations favoring high-grade, low-emission iron ore.

  • Only ~4% of global iron ore supply qualifies for green steel production, creating a significant market deficit for high-grade DR pellets by 2035.

Sydvaranger project highlights

  • Sydvaranger is a fully permitted, brownfield open-pit mine with existing infrastructure, targeting 70% Fe direct reduction grade magnetite concentrate.

  • Definitive Feasibility Study (DFS) completed in September 2025 confirms strong technical and economic viability, with a 25-year mine life and first shipment planned for Q4 2026.

  • Projected pre-tax NPV of USD 1,522m and IRR of 37.7%, with cumulative gross revenue of USD ~8.8bn and EBITDA of USD ~4.5bn over the life of mine.

  • Mining operations to be conducted by Hartikainen Oy, a leading Nordic contractor, reducing start-up and operational risks.

  • All key permits and licenses are in place, with strong local and governmental support and a focus on ESG and community impact.

Operational and financial structure

  • Phase 1 (2026–2034) targets ~20mt production, Phase 2 (2035 onward) adds ~43mt, totaling ~63mt over mine life.

  • Initial CapEx for Phase 1 is USD 193.6m, with a payback period of ~3.5 years and early positive cash flow.

  • Project financing includes a mix of bond and equity, with project FID and financing targeted for Q1 2026.

  • Brownfield processing plant and logistics infrastructure (rail, port) already in place, minimizing capital requirements and technology risk.

  • Operational leadership team with extensive experience in mining, finance, and ESG, supported by a skilled on-site workforce in Kirkenes.

How does CBAM impact Sydvaranger's market position?
How do post-DFS optimisations de-risk operations?
Detail Sydvaranger's Q1 2026 project financing plan
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Next Grangex earnings date

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Q4 202517 Feb, 2026
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Frequently asked questions

Grängesberg Exploration Holding AB, known as Grangex, is a Swedish mining and exploration company focused on developing mineral projects with an emphasis on sustainability and resource efficiency. The company primarily explores and develops deposits of iron ore and other minerals, targeting projects with significant economic potential. The company is headquartered in Stockholm, Sweden, and its shares are listed on the Stockholm Stock Exchange.

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