Nordic Mining has entered into agreements with the main landowners at Engebø, skriver selskapet i en pressemelding.
Pursuant to the agreements, Nordic Mining has the right to acquire the area for the planned mineral processing plant.
Further, the agreements regulate Nordic Mining’s planned extraction activities and compensation to the landowners for sale of all minerals from the Engebø deposit.
– We have had a constructive dialogue with the landowners at Engebø, and we are pleased that agreements have been reached. This provides flexibility and predictability for the development work going forward. As a long-term local operator, we want to establish and maintain a good dialogue and relationship with all neighbors and local stakeholders, sier CEO Ivar S. Fossum.
Nordic Mining holds all rights and permits necessary for its current operations related to the Engebø project. This includes extraction permits, environmental permit and a zoning plan regulating the use of land for mining, mineral processing and infrastructure in the Engebø area.
The agreements with the landowners regulate Nordic Mining’s acquisition of the properties for the planned processing plant, including the existing deep-water harbour facility, and compensation to the landowners related to extraction and sale of all mineral products from Engebø (rutile, garnet and other minerals).
The mining area comprised by the agreements covers mainly the open pit production phase of the Engebø project.
In the prefeasibility study which was completed in October 2017, the open pit production period is estimated to 16 years.
The extraction permits granted to Nordic Mining also include the adjacent area for the subsequent underground mining, and Nordic Mining will initiate activities also for this phase.