Keliber has appointed advisor for corporate finance services
Nordic Mining’s associated company Keliber has appointed an advisor for corporate finance services. The purpose is to investigate options and possibly carry out transactions in order to position Keliber strategically and financially for the fast-growing development in the lithium industry.
Over the last months, the markets for lithium products have developed positively and the investor interest for the lithium industry has substantially increased. The fastest growing application area for lithium is the battery industry. Electric and hybrid vehicles and energy storage solutions to support a greener society are key drivers for the lithium market.
C urrently, there is no production of battery grade lithium carbonate in Europe. The European consumption of lithium in various industrial applications is, however, substantial. Plans have been launched to build large battery plants in Europe in order to serve the car industry.
Keliber is in the Definite Feasibility Study (“DFS”) phase for its lithium project in Finland, targeting to be the first producer in Europe of battery grade product. The DFS is targeted for completion in Q2 2017.
Nordic Mining owns approximately 25% of the share capital and is the largest shareholder in Keliber.
For questions please contact CFO Lars K. Grøndahl, telephone +47 901 60 941.
Oslo, 9 September 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 a large-scale project development at Engebøfjellet in Sogn and Fjordane where the Company has rights and permits to a substantial eclogite deposit with rutile and garnet. Permits for the project have been granted by the Norwegian government. 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 (OAX: NOM).