Nordic Mining ASA

Nordic Mining acquired the rights to the Engebø deposit in 2006. The zoning plan and environmental permits were granted in April 2015 and the Updated Definitive Feasibility Study (UDFS)  of the Engebø Project (the “Project”) was published in May 2021.

Nordic Mining ASA (“Nordic Mining”) has completed the Updated Definitive Feasibility study (“UDFS”) for the Engebø Rutile and Garnet project (“the Project”). The UDFS is an update of the DFS which was completed in January 2020. As a consequence of the COVID-19 pandemic and uncertainties related to the markets for rutile and garnet, and the opportunities for securing project financing, Nordic Mining decided in spring 2020 to undertake a Value Engineering review to make the Project more resilient.

The updated study documents Engebø as a sustainable and economically robust mineral project with reduced financing risk, improved financial resilience, and attractive financials returns.