Photo: Pekka Kenttälä/Sveriges Radio

Northland shareholders approve rescue package

Northland Resources shareholders have voted in favour of a $300 million rescue package to secure the future of the mining company.

The vote was held at a general meeting during which a new board was also appointed.

The deal was first proposed early in the summer after the company got into financial difficulty.

Northland runs an iron mine outside Pajala in the far north of Sweden. Production at the mine has been suspended since May.

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