Northland mine financing deal approved
The Northland mine in Pajala, northern Sweden, will live on, after bondholders voted in favour of a rescue package Tuesday.
The deal, announced last week, and worth over US$300 million, needed the support of the existing bondholders before it could be approved.
Northland Resources runs an iron mine outside of Pajala in the far north of Sweden. Production at the mine has been on hold since the company got into financial troubles ten days ago.