Offtake with Barton Group for Engebø garnet expanded
Barton Group (”Barton”) and Nordic Mining (the ”Parties”) have agreed to expand the agreement for offtake of garnet to North America to additionally include the South-America and Central America regions. The Parties are in the process of completing detailed agreements related to garnet offtake.
In 2017, the Parties entered into a Heads of Agreement (”HOA”) for offtake and commercial cooperation of garnet from the Engebø rutile and garnet project (the ”Engebø Project”). The Parties have now agreed to expand the exlusive offtake arrangement of garnet to additionally include the South-America and Central America regions. Other elements of the HOA remains unaltered and the Parties are in the process of completing detailed agreements.
Barton is a substantial producer and distributor of garnet with more than 40 warehouses and an experienced marketing and technology organization supporting customers all over the continent. The garnet will be sold and distributed under Barton’s brand name for high-quality products.
For questions, please contact CEO Ivar S. Fossum, telephone (+47) 930 96 850.
Oslo, 11 September 2019
Nordic Mining ASA
About 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 18.5% 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, high-purity quartz, nickel and PGE.
Nordic Mining is listed on Oslo Axess with ticker symbol “NOM”.