Nordic Mining appoints advisers for the Engebø project financing
Nordic Mining ASA (“Nordic Mining” or the “Company”) is pleased to announce that it has appointed Clarkson Platou Securities AS and SpareBank 1 Markets AS (the “Financial Advisers”) to advice on the project financing for the Engebø Rutile and Garnet Project. The Financial Advisers will work closely with Nordic Mining to explore the various financing structures that are available for the Company with the aim of conducting and executing financing for the project by year-end 2021. Subject to financing, construction of the Engebø project will commence.
“We have made important progress on the Engebø project in recent months. The Updated Defined Feasibility Study represented a significant de-risking of the project, both in terms of market and execution, and at the same time maintaining robust project economics. Furthermore, as announced earlier this week we have entered into LOIs for Engineering, Procurement and Construction building on the partnerships that we have developed in this process. This provides a solid platform to progress forward on project financing in combination with offtake contracts under negosiations, which will be the final milestone before commencing construction”, says CEO Ivar S. Fossum.
Further updates will be provided in due course.
For questions, please contact CFO Christian Gjerde, telephone +47 98060909.
Oslo, 9 June 2021
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. The Company’s project portfolio is of high international standard and holds significant economic potential. The Company’s assets are in the Nordic region.
Nordic Mining is undertaking a large-scale project development at Engebø on the west coast of Norway where the Company has rights and permits to a substantial eclogite deposit with rutile and garnet. Nordic Mining also holds 14.3% of the shares in Keliber Oy, which is developing a lithium project in Finland to become the first European producer of battery grade lithium hydroxide.
In addition, Nordic Mining holds interests in other initiatives at various stages of development. This includes patented rights for a new technology for production of alumina and exploration of seabed minerals.
Nordic Mining is listed on Euronext Expand Oslo with ticker symbol “NOM”.