The mine 'Sydvaranger Gruve' has become an enormous problem for the Norwegian shipping and logistics group Tschudi. Declining iron ore prices put the company in an alarming situation this past year, a development that has also hit Tschudi Shipping Company, which is connected to the mining company, reports Norwegian business daily Dagens Næringsliv, citing the company's annual report.
"We own Tschudi Bulk Terminal in Kirkenes, where Sydvaranger Gruve is a major customer. If we lose a customer that big, it will cause a significant loss of income," says CEO Jon Edvard Sundnes to the newspaper.
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