Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Nordic Mining ASA ( (DE:7NM0) ) has issued an announcement.
Nordic Mining ASA’s Engebø Project has transitioned from construction to production ramp-up, but faces operational and technical challenges affecting throughput and revenue. To address these issues, the company plans an operational review and will receive expertise from customers Iwatani and The Barton Group. Additionally, a redesign of equipment is underway to increase throughput, with the first rutile cargo expected in early 2026. Financially, Nordic Mining is proposing a USD 22.5 million bond tap issue to cover ramp-up delays, with strong support from existing bondholders.
More about Nordic Mining ASA
Nordic Mining ASA is a resource company focused on high-end industrial minerals and metals, with a project portfolio of high international standard and significant economic potential. The company’s assets are located in the Nordic region, including a large-scale construction project at Engebø on Norway’s west coast, where it holds rights to a substantial eclogite deposit containing rutile and garnet. Nordic Mining also has interests in other initiatives, such as patented technology for alumina production and high purity quartz exploration. The company is listed on Euronext Oslo Børs under the ticker symbol ‘NOM’.
Average Trading Volume: 353,505
Current Market Cap: NOK1.82B
For an in-depth examination of 7NM0 stock, go to TipRanks’ Overview page.