Nordic Mining ASA (EN Expand:NOM): Nordic Mining wins against AMR on all counts at the supreme court
Release in English:
Reference is made to the stock exchange notice from Nordic Mining ASA ("Nordic Mining" or the "Company") on 30 November 2022 regarding Artic Mineral Resources' ("AMR") appeal of the ruling from Borgarting Court concerning the Engebø deposit.
After full oral arguments before the Supreme Court over 5 days in late January, the Norwegian Supreme Court has today ruled. As expected, the ruling is in favour of Nordic Mining on all counts. The court has also ruled that AMR shall pay all legal expenses. With this ruling the litigation from AMR is at an end.
As argued by Nordic Mining and the Norwegian Government, the ruling concludes that all minerals in the Engebø deposit ore are owned by the Norwegian state. As a consequence, Nordic Mining, through the mining rights granted by the state, has a sole and exclusive right to mine the Engebø deposit, including titanium and garnet. AMR has never had any claim or rights in the deposit.
"I am pleased that the Supreme Court admitted the case, and that they cleared up the questions raised by AMR.
This case highlights the importance a stable and competent government has for development of new and desirable long term industrial activity in Norway. My sense of gratitude upon reading the ruling was therefore very much also on behalf of the Norwegian mineral industry in general. " says CEO Ivar S. Fossum.
For further information, please contact CEO Ivar S. Fossum, telephone +47 930 96 850.
Release in Norwegian:
Det vises til børsmelding fra Nordic Mining ASA (“Nordic Mining“ eller “Selskapet“) 30. november 2022 knyttet til Arctic Mineral Resources (“AMR”) anke over dom i Borgarting lagmannsrett knyttet til Engebøforekomsten.
Etter muntlige forhandlinger over 5 dager i slutten av januar, har Høyesterett i dag avsagt dom i saken. Som forventet er dommen i favør av Nordic Mining på alle punkter. Retten har også bestemt at AMR skal dekke alle saksomkostninger. Dommen markerer slutten på søksmålene fra AMR.
I samsvar med Nordic Minings og statens anførsler, bekrefter Høyesterett at alle mineraler i Engebøforekomsten eies av staten. Dette innebærer at Nordic Mining gjennom sin utvinningstillatelse har enerett til å utvinne mineralene i Engebøforekomsten, herunder rutil og granat. AMR har aldri hatt noen krav eller rettigheter knyttet til forekomsten.
“Jeg er glad for at Høyesterett tok opp saken og avklarte spørsmålene som ble tatt opp av AMR.
Denne saken viser hvor viktig en stabil og kompetent myndighet er for utviklingen av ny og langsiktig industrivirksomhet i Norge. Dommen er også viktig for mineralindustrien generelt“ sier CEO Ivar S. Fossum.
For ytterligere informasjon, vennligst kontakt CEO Ivar S. Fossum, telefon +47 930 96 850.
Oslo, 21 March 2024
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 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. 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 high purity quartz.
Nordic Mining is listed on Euronext Expand Oslo with ticker symbol “NOM”.