Nordic Mining has agreed to purchase 15% of the shares in Gudvangen Stein AS from Nannok Invest AS. As a consequence, Nordic Mining will own 100% of the shares in Gudvangen Stein AS.

 

Gudvangen Stein has production of anorthosite rock from its mine in Nærøydalen in Aurland municipality in Sogn and Fjordane county in Norway. The main application areas for anorthosite are feedstock for stonewool production and asphalt aggregate to improve traffic safety. Production volume is around 200,000 tons per year, mostly for export. The anorthosite from Gudvangen Stein has high content of aluminium; approximately 30%.

 

Nordic Mining has initiated activity with the purpose to develop anorthosite products for various industrial applications. As a part of this activity, Nordic Mining has a cooperation project with StatoilHydro ASA related to use of CO2 in processing of anorthosite.

 

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

 

 

Oslo, 12 June 2009

Nordic Mining ASA