Northern Iron Limited is the owner of an iron project in northern Norway. The Company operates in three segments: Sydvaranger Iron Ore Project, marketing of ore concentrate and corporate office. The Sydvaranger Iron Project consists of three magnetite iron deposits with JORC compliant resources (Kjellmannsasen, Fisketind Ost and Bjornevatn) and a further 20 prospects with iron mineralization located over a 12 kilometer strike length. During the year ended December 31, 2011, mining was focused on Kjellmannsasen and Hyttemalmen. During 2011, the Company shipped a total amount of 1,509,000 tons of dry concentrate. In November 2011, the Hyttemalmen pit ceased operations upon mining out all of the available reserves.