Development cooperation agreement for anorthosite
Gudvangen Stein AS, a wholly owned subsidiary of Nordic Mining ASA, has entered into a development cooperation agreement with a leading producer of advanced mineral products ("the Partner"). The purpose of the agreement is, on a joint basis, to investigate the possibility to process and utilise concentrates from Gudvangen Stein anorthosite as raw material for production of advanced mineral products.
Gudvangen Stein has produced sample anorthosite concentrate for testing and developed preliminary technical information which has been positively evaluated by the Partner. The parties have agreed to start test program with the purpose to escalate use of anorthosite concentrate in the Partner's production. The test program will start as soon as possible.
The parties intend to negotiate a long term supply/off-take agreement. The agreement will be subject successful outcome of the test program. Gudvangen Stein has the intention to establish a new production plant which can produce the quantity and quality of anorthosite concentrate applicable under the supply/off-take agreement.
"This development agreement clearly manifests the potential for anorthosite in new advanced applications", says VP Commercial Ottar Nakken in Nordic Mining. "We experience growing interest for anorthosite as raw material in new applications. Use of anorthosite has positive environmental impact in various industrial processes, and it makes good sense to investigate this potential together with dedicated industrial partners", says Ottar Nakken.
For questions please contact VP Commercial Ottar Nakken, telephone +47 - 928 91 780.
Oslo, 30 April 2010
Nordic Mining ASA