Norge Mining, the Anglo-Norwegian mineral exploration company with a world-class resource of critical raw materials in southwest Norway, has announced that its Norwegian subsidiary, Norge Mineraler AS, has been awarded extraction rights in Eigersund municipality.
This marks 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 assessments 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.”