Nordic Mining ASA: Completed drawdown of USD 50 million royalty instrument

Nordic Mining ASA (“Nordic Mining” or the “Company”) is pleased to announce that the Company, through its wholly owned subsidiary Engebø Rutile and Garnet AS, has completed drawdown of the USD 50 million non-dilutive royalty instrument from OMRF (Zr) LLC which is managed by the Orion Resource Partners Group (“Orion”). The USD 50 million drawdown is part of the USD 277 million capital the Company secured to fully finance the Engebø Project. The Company is continuing construction of the Engebø Project on cost and time as presented 7 November 2023.

“We are pleased to have completed onboarding of Orion as a long-term financing partner with the drawdown of the royalty instrument, supporting the good progress we have on the construction of the Engebø Project. In addition to the financing contribution, Orion will provide deep mining experience“, says Ivar S. Fossum, CEO of Nordic Mining.

Orion Resource Partners Group (www.orionrp.com)

Orion is an $8.2 billion global asset management firm that specializes in institutional investment strategies in precious and energy transition metals and minerals. Headquartered in NYC and with offices in Denver, London, and Sydney, Orion includes a team of 80 professionals with backgrounds in metals finance, physical metals logistics and sales, and in-house technical professionals responsible for risk assessment and portfolio management.

For further information, please contact CFO Jens Schnelle, telephone +47 476 60 355.

Oslo, 16 November 2023
Nordic Mining ASA

Nordic Mining ASA (“Nordic Mining” or the “Company”) (www.nordicmining.com) 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 construction project at Engebø on the west coast of Norway where the Company has rights and permits to a substantial eclogite deposit with rutile and garnet.

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.

Nordic Mining is listed on Euronext Expand with ticker symbol “NOM”.