Nordic Ocean Resource participates in “MarMine”, a new research initiative on seabed minerals
The Research Council of Norway has granted up to NOK 25 million to “MarMine”, a research project on marine mineral resources. The project is coordinated by the Norwegian University of Science and Technology (“NTNU”) and has a strong industrial basis and participation. Nordic Mining’s subsidiary Nordic Ocean Resources AS (“NORA”), a first-mover initiative related to seabed mineral exploration in Norway, will be actively participating in the project.
NOK 1,000 billion worth of minerals and metals
In a 2013 pre-project, NORA and NTNU with support from Statoil did estimations indicating that the Mid-Atlantic Ridge (“MAR”), within Norwegian jurisdiction, could contain as much as NOK 1,000 billion worth of minerals and metals. Specific areas along the MAR were pinpointed as promising for discovery of new sulfide deposits.
Exploration cruise 2016
As part of the “MarMine”, a comprehensive exploration cruise is planned on the Norwegian continental shelf in the summer of 2016. The cruise will explore for sulfide deposits within selected areas on the MAR. The work will involve sampling using a remotely operated underwater vehicle. Analysis and assessments will be done related to technical and environmental aspects of marine mineral operations.
CEO Ivar S. Fossum comments: “We are pleased that NORA’s pioneering efforts have sparked a strong industrial interest for the potential related to seabed minerals. We expect valuable new knowledge to be gained from the “MarMine” project.”
Strong industrial participation
NTNU is the coordinator of “MarMine”. So far, "MarMine" has the following partners who will participate financially and technically in the project:
The Norwegian Institute for Water Research (NIVA)
Kongsberg Maritime AS
Leonhard Nilsen & Sønner AS
Nordic Ocean Resources AS (Nordic Mining ASA)
Store Norske Spitsbergen Kulkompani AS
For questions please contact CEO Ivar S. Fossum, telephone + 47 930 96 850.
For further information, please see NTNU’s press release at www.ntnu/igb.
Oslo, 26 June 2015
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 to a substantial eclogite deposit with rutile and garnet. 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.