Operating license granted for the Engebø project

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Today, the Directorate of Mining has granted the operating license for the Engebø rutile and garnet project. The license is granted for the life of mine of the project which includes an open pit and underground phase, however, with a possibility for revision after 10 years. The license follows the strict regulation practice for Norwegian mining operations and implies high standards for environment, health and safety.

Nordic Mining, through the wholly owned subsidiary Nordic Rutile AS, submitted the application for operating license to the Directorate of Mining in February 2019. A hearing process was carried out in the second half of 2019.

“The operating license is an important milestone for the Engebø project”, says CEO Ivar S. Fossum. “All major permits and are now in place, documenting that the project complies well with the comprehensive regulatory framework and high standards for mining industry in Norway. We are optimistic that the ongoing project review will come out positively with increased resilience to global uncertainties caused by the Coronavirus.”

“We are pleased that our plans for the mining operation at Engebø are supported by the Directorate of Mining. The high standards reflected in the operating license are in line with our expectations and what we are preparing for the project,” says Project manager Kenneth Nakken Angedal.

Nordic Mining will evaluate the terms and conditions included in the operating license and clarify possible matters with the Directorate of Mining.

For questions, please contact CEO Ivar S. Fossum, telephone +47 930 96 850.

Oslo, 17 June 2020
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 16.3% 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 Oslo Axess with ticker symbol "NOM".


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