New CEO appointed for Keliber Oy

Mr. Pertti Lamberg (51) has been appointed as the new CEO of Nordic Mining’s associated company, Keliber Oy. Mr. Lamberg will take up the position as from 6 June 2016. Keliber’s current CEO Mr. Olle Sirén will continue in the company as Chief Operating Officer.

Pertti Lamberg is currently a Director at Outotec Oyj (Plant Products) and Professor in Geometallurgy at the Luleå University of Technology. Lamberg has previously held various positions in Outotec Research Oy and Outokumpu Research Oy. Mr. Lamberg is also a Doctor in Philosophy (geology).

“The general positive sentiment for the global lithium industry and the tightening market balance is an exciting backdrop for the strengthening of Keliber’s management team,” says CEO Ivar S. Fossum who is also a board member in Keliber. “Pertti Lamberg’s strong industrial, technical and managerial experience will be important for Keliber going forward.”

Nordic Mining is the largest shareholder in Keliber with approximately 25%. In March 2016, Keliber concluded a Pre-Feasibility Study (“PFS”) for its lithium project. A preliminary net present value of EUR 97 million has been estimated based on an annual production of 9,000 tonnes of lithium carbonate and an 8% discount rate. The estimated payback period is approximately 4 years.

The price development for lithium over the last months and the expectations going forward, have boosted international investor interests and market values for developing lithium companies. The current market prices for lithium carbonate have significantly outperformed the price assumptions in Keliber’s the PFS.

The current dynamics of the international lithium industry calls for an active ownership approach. Consequently, the shareholders of Keliber are evaluating strategies to visualise shareholder values and position the company for the expected market growth,” says Ivar S. Fossum.

For questions please contact CEO Ivar S. Fossum, telephone +47 930 96 850.

Oslo, 19 May 2016
Nordic Mining ASA

Nordic Mining ASA (

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.