Nordic Mining ASA: Signs alliance agreement for mining operations with regional partner

Nordic Mining ASA: Signs alliance agreement for mining operations with regional partner

27 Jun 2024 13:00 CEST

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Issuer

Nordic Mining ASA

Nordic Mining ASA ("Nordic Mining" or the "Company") is pleased to announce that
its wholly owned subsidiary Engebø Rutile and Garnet AS ("ERG") has entered into
a 5-year mining alliance agreement with Sunnfjord Industripartner AS ("SIPA" or
the "Alliance Partner") to deliver mining services for the Engebø Rutile and
Garnet project ("Alliance Contract").

The Alliance Partner's responsibility includes drilling, blasting, loading and
hauling for the open pit operations, while ERG is responsible for management of
the mine design and schedule. The Alliance Contract includes certain pre-defined
targets with an element of profit and loss sharing related to those targets,
incentivizing cost optimization and cooperation. The expected value of the
contract is approximately NOK 450 million.

The mining fleet will consist of, but is not limited to, articulated haulers,
wheel loaders and excavators from Volvo, while Sandvik has been chosen as the
drill rig manufacturer. The machinery will have digital capabilities to support
the mining operations and to optimize the mining safety and ore quality while
limiting the environmental impact.

SIPA is a construction company established by four local civil and earthworks
contractors in the Sunnfjord municipality to undertake large scale projects and
has been responsible for sitewide earthworks and underground infrastructure for
the Engebø Project.

"This is a key agreement for the operations at Engebø, and we are pleased to
establish SIPA as our partner for the mining operations. SIPA has been a
valuable supporter, shareholder, and important contractor for the construction
and will now continue as a long-term strategic partner towards carbon free
mining operations", says CEO Ivar S. Fossum.

"We are very satisfied to extend the partnership with Nordic Mining through the
mining alliance agreement for mining services at Engebø Rutile and Garnet. We
have through the preparation of the mining area already gained valuable
knowledge about the ore-body that we take with us into the alliance for
optimization of the mining fleet. As Alliance Partner we also bring strong
support from the blasting media and mining fleet manufactures", says Harald
Kvame, Chairman of the Board, SIPA.

"Orica is delighted to be selected as the preferred supplier for the start-up of
the new mine. We are excited to support their operations and contribute to their
success with our industry-leading solutions", says Orica's Territory Manager for
Norway, Trond Hellum

"Sandvik is proud to be chosen as the preferred supplier of surface drilling
equipment for operating at the new mining operations at Engebø", says Sales
Manager Surface Drills Sandvik, Tor Arne Rønningen.

"Volvo is grateful and proud to be part of the exciting start-up phase of the
Engebø project. Our contribution has been to simulate production with different
machine types, and to give advice on choosing the right machines with a focus on
sustainability and efficient operation", says Product Manager Loaders and
Haulers Volvo Norway, André Gullholm

For further information, please contact Managing Director - Engebø Rutile and
Garnet, Kenneth Nakken Angedal, telephone [phone].

Oslo, 27 June 2024
Nordic Mining ASA

Nordic Mining ASA ("Nordic Mining" or the "Company") (www.nordicmining.com)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 construction project at Engebø on the
west coast of Norway where the Company has rights and permits to a substantial
eclogite deposit with rutile and garnet. 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 high purity quartz.

Nordic Mining is listed on Euronext Expand with ticker symbol "NOM".

More information:
Access the news on Oslo Bors NewsWeb site

622567_Release.pdf

Source

Nordic Mining ASA

Provider

Oslo Børs Newspoint

Company Name

NORDIC MINING

ISIN

NO0013162693

Symbol

NOM

Market

Euronext Expand