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Nordic Mining’s interim report per 31 December 2014

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Enclosed please find Nordic Mining’s interim report for the fourth quarter 2014.

Important events in the fourth quarter 2014 and year-to-date 2015:

  • Strategic focus on the Engebø rutile project
    The Group’s near-term strategic target is to secure permits for the Engebø project. 

  • Supplementary information paves ground for the government’s decision process
    The results and final reports from the supplementary investigations related to the Engebø rutile project were submitted in September 2014. In December 2014, the government confirmed that the information forms a good basis for considering the remark from the Directorate of Fisheries related to the industrial area plan, and the waste disposal permit.

  • Considerations are ongoing; decision “as soon as possible”
    The Ministry of Local Government and Modernisation is responsible for deciding on the industrial area plan. The waste disposal permit is considered by the Ministry of Climate and Environment. The considerations are coordinated and will include i.a. industrial, social and environmental aspects of the Engebø project. The government has stated that a decision will be made “as soon as possible”.

  • Significant increase of Keliber’s mineral resources
    In November 2014, the 25% owned associated company, Keliber reported resource estimates for the Rapasaari and Emmes lithium deposits in accordance with the JORC Code 2012. The estimate for Keliber’s indicated mineral resources was increased by 55%. The total estimate for measured and indicated mineral resources in accordance with the JORC Code is approximately 5.2 million tonnes. 

  • Promising drilling indications at Rapasaari
    Keliber has drilled approximately 2,700 meters at Rapasaari during the winter season. Preliminary indications are positive and analytical results are expected in Q2 2015. 

  • Exploration drilling in Reinfjord
    A NTNU coordinated project drilled two boreholes in Reinfjord in October/November 2014. The project is funded from the Nordic Council of Ministers through NordMin. Results from analysis are expected in Q2 2015.

  • Substantial oversubscription of Rights Issue
    Nordic Mining’s Rights Issue which was completed in November 2014 was 86% oversubscribed. 28 million new shares were subscribed at a price of NOK 0.60 per share. Gross proceeds from the issue were NOK 16.8 million.

For further information please contact CFO Lars K. Grøndahl, telephone +47-901 60 941.


Oslo, 27 February 2015
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 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 mainly in the Nordic region.

Through the subsidiary Nordic Rutile AS Nordic Mining is undertaking large-scale project development at Engebøfjellet in Sogn and Fjordane where the Company has rights to a substantial eclogite deposit with rutile and garnet. 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.

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