Norge Mining – Norge Mineraler AS awarded extraction rights

Award of extraction rights at Eigersund underlines economic viability of the Eigersund Project

OSLO, NORWAY, June 26, 2024 /EINPresswire.com/ — Norge Mining, the Anglo-Norwegian mineral exploration company with a world-class resource of Critical Raw Materials in southwest Norway, announces that its Norwegian subsidiary, Norge Mineraler AS, has been awarded extraction rights in Eigersund municipality, marking a significant step in the Company’s strategy to become a European source of Critical Raw Materials for Europe and beyond.

The extraction rights, which cover an area of 26.3 km2, comprise some 32 individual licences which were awarded by the Norwegian government’s Directorate for Mineral Management. The licences include the Company’s exploration areas of Storeknuten, Skeipstad and Øygrei. Storeknuten, the Company’s most advanced exploration area, is also known as the Eigersund Project.

The award of extraction rights relates to vanadium, titanium and iron ore, all of which are hosted by the norite rock characteristic of the Eigersund area. Extraction rights for phosphate, another of the Company’s target minerals, will be agreed separately with landowners in line with the Norwegian Minerals Act (2009).

Norge Mineraler is now preparing the planning and zoning stage of the proposed mine development and is in positive dialogue with the Eigersund municipality and the Norwegian government. This stage includes thorough impact assesstments and consultation before the final planning application is submitted.

The extraction rights will be included in the Company’s pre-feasibility study, which is moving close to completion.

Norge Mineraler’s application for extraction rights is one of the first projects to go through the Norwegian government’s “fast-track” process, which is designed to advance the permitting of mining operations.

John Vergopoulos, Chief Executive Officer of Norge Mining, said:

“The award of extraction rights marks another important step for Norge Mining and our Norwegian subsidiary, Norge Mineraler, as we continue our journey to become a sustainable source of Critical Raw Materials. The award of extraction rights underlines the economic viability of our deposits and we are now focused on preparing the planning and zoning stage prior to the submission of a final planning application.”

About Norge Mining

Norge Mining is an Anglo-Norwegian natural resources company focused on mineral exploration in Norway. The Company’s JORC resource estimates from the Bjerkreim Exploration Project in southwest Norway have confirmed world-class deposits of the EU Critical Raw Materials phosphate, vanadium and titanium, materials with key roles in the clean energy transition, security of food supply and other areas. The provenance of these materials is also of significant strategic importance for net carbon zero and ESG commitments, a key requirement for which is supply chain transparency.

Norge Mining, which owns 61 exploration licences totalling more than 520 square kilometres in Norway, is conducting a programme of exploration work, building on earlier studies by the Geological Survey of Norway (NGU).

Founded in November 2018, the Company is headquartered in the UK and has a 100%-owned Norwegian subsidiary, Norge Mineraler AS. The Company’s ambition is to become a substantial, sustainable and strategically important exploration and mining business in Europe.

For further information, please visit www.norgemining.com

Tara Vivian-Neal
Tavistock
+44 7394 408654
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