OSLO, NORWAY: Nordic Mining ASA has signed a term sheet for offtake of rutile with Kronos (US) INC. a globally leading pigment producer.
The agreement will, together with the Company’s agreement with the Japanese trading house, secure sales for the full annual production of rutile from the Engebø Rutile and Garnet project for the first five years of production.
The parties will start the process of finalizing the final offtake agreement. “The agreement underlines the strategic position of Engebø as one of the few new producers of natural rutile in the coming years”, says CEO Ivar S. Fossum.
Nordic Mining ASA 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 14.3% 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 Euronext Expand Oslo with ticker symbol “NOM”.
Nordic Mining ASA share price
0.25 EUR+0.0080 (3.28%)today
20 Jul, 9:06 am GMT+2 ·Disclaimer