GRANGEX enters into an exclusivity agreement to acquire Sydvaranger Mining AS
GRANGEX AB (“Grangex”) today announces that it has entered into an exclusivity agreement with OMF Fund II H Ltd (“Orion”) for the purposes of negotiating final definitive documentation in relation to the acquisition of 100% of the share capital and shareholder loans of Sydvaranger Mining AS (“Sydvaranger”) from Orion for a total consideration of USD 33 million. Sydvaranger owns a high-grade iron ore mine in Kirkenes, Northern Norway, where Grangex aims to restart production of ultra-high-grade iron ore, in line with its sustainable mining strategy. Orion is a leading private investment fund