Nordic Mining Secures Funds for Development Project in Førde Fjord

Nordic Mining has been granted NOK 1.1 million from Innovation Norway in connection with a development project initiated in connection with the ongoing survey and investigation program in the Førde fjord. 

In addition, the company’s application for tax refund (“Skattefunn”) has been approved for the project. Following from this, the total financial support amounts to approximately NOK 2.3 million. Cooperation partners in the development project are Det Norske Veritas (DNV) and SINTEF. The project is a part of Nordic Mining’s efforts to address the Ministry of the Environment’s request for supplementary information in connection with the Engebø rutile project.

In August 2013, 11 measuring stations were placed in the Førde fjord for measurement of currents and hydrographic conditions in the fjord. The measurement program is a central part of the supplementary information requested by the Ministry of the Environment in relation to the industrial area plan and the discharge permit for the Engebø rutile project. The measurement program will provide additional information on the fjord circulation in connection with the planned tailings disposal in the fjord. DNV is executing the measurement program on assignment from Nordic Mining.

The results from the measuring program and biological investigations in the disposal area will be assessed and analysed by DNV together with SINTEF. An integrated method will be developed for assessment of environmental impacts of fjord depositing and for optimization of disposal solutions. Advanced modeling tools developed by DNV and SINTEF will be used, and the work will be based on previous experience and practice which have been accumulated in connection with assessment of disposal in the offshore oil and gas industry. In addition, experience from existing sea deposal from operating mineral production in Norway will be utilized.

CEO Ivar S. Fossum comments: “Our target is to provide confidence for the fjord deposit as a good solution for the Engebø project. Both DNV and SINTEF have comprehensive experience with risk assessment related to disposals in marine environment. We appreciate that the development project has been granted financial support from the government.”

Press Release, September 19, 2013