Hatch appointed for coordination of the Engebø PFS
Nordic Mining has appointed Hatch for technical advisory services and coordination of the Pre-Feasibility Study (“PFS”) for the Engebø rutile project. Hatch is a Canadian engineering and consultancy company and a leading international mining and processing specialist with extensive experience across the mining industry, including titanium feedstock. The target is to complete the PFS in Q1 2017. Based on current estimates, Nordic Mining’s existing funding exceeds the costs to complete the PSF with a comfortable margin.
The service agreement for the Engebø PFS has been entered into by Nordic Mining’s wholly owned subsidiary, Nordic Rutile AS and Hatch Africa (Proprietary) Limited (“Hatch”).
The scope of the PFS will include descriptions and evaluations of i.a. the following:
- Geology and resources
- Mining geotechnical
- Tailings and waste rock disposal
- Environmental, health and safety
- Risk management
- Financial model
- Final PFS report
Together with Nordic Mining, Hatch will coordinate the PFS process which will also include contributions from several other suppliers. An early input to the PFS process will be the Competent Person, Mr. Adam Wheeler’s upcoming report on geology and mineral resources including revised resource estimates and classifications which will be ready and reported in September 2016.
In June/July 2016, Hatch carried out a GAP analysis as a pre-study for the Engebø PFS. No gaps were identified which would delay the kick-off of the PFS. The GAP analysis included a high level risk analysis to assess the key risks for the project and ways for addressing risks as part of the PFS.
CEO Ivar S. Fossum comments: “We are very pleased that Hatch will be the coordinator for the PFS process. Hatch has an impressive track record and experience in the global mining industry, and we look forward to the process of combining this with the world class properties of the Engebø rutile deposit. We are satisfied that the considerations during the summer months have confirmed a comfortable balance between the estimated costs for completion of the PFS and Nordic Mining’s existing funding.”
For questions please contact CEO Ivar S. Fossum, telephone +47 930 96 850.
Oslo, 24 August 2016
Nordic Mining ASA
Nordic Mining ASA (www.nordicmining.com)
Nordic Mining ASA (“Nordic Mining” or “the Company”) is a resource company with focus on high-end industrial minerals and metals in Norway and internationally. The Company’s project portfolio is of high international standard and holds a significant economic potential. The Company’s assets are in the Nordic region.
Through the subsidiary Nordic Rutile AS Nordic Mining is undertaking large-scale project development at Engebø in Sogn and Fjordane where the Company has rights to a substantial eclogite deposit with rutile and garnet. Permits for the project were granted by the Norwegian government in April 2015. Nordic Mining has rights for exploration and production of high-purity quartz in Kvinnherad in Hordaland and develops the project through its subsidiary Nordic Quartz AS. Nordic Mining’s associated company Keliber Oy in Finland plans to start mining of lithium bearing spodumene and production of lithium carbonate. Nordic Mining holds exploration rights on the Øksfjord Peninsula in Troms and Finnmark, where the Company has discovered a prospective area of sulphide mineralisation. Through the subsidiary Nordic Ocean Resources AS, Nordic Mining is exploring opportunities related to seabed mineral resources.
Nordic Mining is listed on Oslo Axess.