Sales of anorthosite products from Nordic Mining's 100% owned subsidiary, Gudvangen Stein AS, are increasing and indicate stronger underlying market. Sales volumes in July were 64% higher than the same month last year, and in the third week of August sales were close to 11,000 tons which is record level for weekly sales for the company.

 

Anorthosite products from Gudvangen are mainly sold as raw material for insulation products (stone wool) and as aggregate for reflexive and safe top layers of asphalt in north European markets. In order to identify new applications for the anorthosite from Gudvangen, Nordic Mining is undertaking development work and market research. Different separation tests are performed with an objective to make products of higher concentration.

 

"Intensified marketing activities have this summer brought us new customers for anorthosite products, and we also observe signs of more frequent ordering from established customers. Market outlook seems more promising now than at the same time last year," comments VP Commercial Ottar Nakken.

 

For questions please contact VP Commercial Ottar Nakken, telephone +47 - 22 94 77 20.

 

 

Oslo, 24 August 2009

Nordic Mining ASA