MINEX Forum

Tag: Norge Mining

  • Norge Mining Acquires Europe’s Leading Graphite Producer

    Norge Mining Acquires Europe’s Leading Graphite Producer

    Anglo-Norwegian firm Norge Mining announced on Monday its acquisition of Skaland Graphite AS, the top producer of natural graphite in Europe, from Australia’s Mineral Commodities Ltd. The deal, with financial terms undisclosed, positions Norge as the sole owner of Skaland, which is home to the world’s highest-grade operating flake graphite mine, located on the island of Senja in northern Norway, about 200 km from Tromsø.

    The Skaland mine boasts a 2021 JORC-compliant resource estimate of 1.84 million tonnes at 23.6% total graphite content, equivalent to 434,000 tonnes of contained graphite using a 10% cut-off.

    The demand for graphite, a critical material in battery production, is projected to surge from $24 billion in 2022 to $38 billion by 2028. Recognizing its importance, the EU classified graphite as a strategic raw material in 2023. Currently, Europe imports about 100,000 tonnes of graphite annually, primarily from China, Tanzania, and Mozambique. However, with China producing 97% of global graphite anodes and imposing export controls, Europe’s need for domestic sources has grown significantly.

    “The need for a secure European supply chain has never been greater,” remarked Norge CEO John Vergopoulos.

    At its current output of 10,500 tonnes annually, Skaland ranks among the top four non-Chinese graphite producers globally. Norge Mining aims to boost Skaland’s production to include battery-grade graphite while continuing to serve industrial customers.

    The acquisition, pending regulatory approvals, is expected to conclude in the first quarter of next year. Additionally, Norge Mining plans to diversify its portfolio by supplying essential battery materials, such as phosphate, from its Eigersund project in southwest Norway.

  • Norge Mining Acquires Skaland Graphite, Europe’s Largest Natural Graphite Producer

    Norge Mining Acquires Skaland Graphite, Europe’s Largest Natural Graphite Producer

    Anglo-Norwegian mining company Norge Mining has announced its acquisition of Skaland Graphite AS, Europe’s largest producer of natural graphite, from Mineral Commodities Ltd., an Australian mining firm. The deal positions Norge Mining to bolster European supply chains for battery-grade graphite, a critical material for energy storage and electric vehicle production.

    The Skaland mine, located on Senja Island in northern Norway, is the world’s highest-grade flake graphite mine and the fourth-largest graphite producer outside China. Producing approximately 10,500 tonnes of graphite annually, the mine boasts an updated JORC-compliant resource estimate of 1.84 million tonnes at 23.6% total graphitic carbon (TGC).

    Norge Mining plans to expand Skaland’s operations to target battery-grade graphite production, alongside its ongoing supply to industrial customers. This strategy aligns with the company’s broader ambitions to produce other battery materials, including phosphate, from its Eigersund Project in southwest Norway.

    Graphite demand is projected to surge as the global market is expected to grow from $24 billion in 2022 to $38 billion by 2028. The EU’s reclassification of graphite as a strategic raw material in 2023, combined with new export controls on graphite by China—currently the source of 97% of global graphite anode production—has heightened the urgency for a secure European supply chain.

    The acquisition of Skaland will be completed on a cash and debt-free basis, with the transaction expected to close in Q1 2025, pending regulatory approval. Norge Mining CEO John Vergopoulos emphasized the importance of this acquisition, stating: “The need for a secure European supply chain has never been greater.”

  • Norge Mining Advances with Eigersund Project After Government Fast-Track Approval

    Norge Mining Advances with Eigersund Project After Government Fast-Track Approval

    Norge Mining has received fast-track approval from the Norwegian government for critical mineral extraction and has confirmed the viability of its most advanced mining initiative with a newly delivered pre-feasibility study (PFS). This study focuses on the first of three zones at the Eigersund project, which represents the initial phase of the Anglo-Norwegian firm’s mining plans.

    The Eigersund project is located within the Storeknuten licence area, which constitutes just 5% of the company’s total 520 sq. km exploration area. The mineral resource estimate stands at 3.4 billion tonnes across all categories, supporting at least 30 years of mining. The Storeknuten area alone contains nearly 1 billion indicated tonnes with grades of 1.73% P2O5, 4.83% TiO2, 0.07% V2O5, and 3.41% Fe3O4, according to a recent JORC resource statement by SRK.

    The PFS assigns a net present value of $2.01 billion to this zone, with expectations for this figure to rise as the project progresses and further optimizations are identified. The initial extraction phase will supply critical raw minerals, including phosphate, titanium, vanadium, and ferro magnetite, for the first 23 years, with an anticipated annual output of 20 million tonnes.

    The estimated capital cost for the project is $2.31 billion, covering expenses for open-pit mining, tailings management, beneficiation, and infrastructure development. Opportunities to reduce these costs will be explored as the project advances. In June, Norway awarded extraction rights for the Eigersund project and all other exploration licenses in the municipality, marking the largest such award in the nation’s history at 26 sq. km.

    John Vergopoulos, CEO of Norge Mining, commented on the PFS milestone, emphasizing that it is a critical step towards establishing a vertically integrated European supply source for EU critical and strategic raw materials. He noted that this achievement aligns with the company’s commitment to high standards of environmental and social sustainability.

    Norge Mining is also focused on sustainability at the Eigersund project, having established a research and development company to explore alternative uses for the mine’s tailings. This initiative aims to reduce the need for tailings deposits and enhance the project’s economic viability. Following the PFS, a bridging study will evaluate project optimization and tailings utilization, leading to a definitive feasibility study (DFS). Concurrently, the company is advancing potential downstream activities related to the production of white phosphorus, phosphoric acid, titanium metal, and vanadium, expected to progress alongside the DFS.

  • Norwegian vanadium mining needs EU regulatory support to develop

    Norwegian vanadium mining needs EU regulatory support to develop

    [vc_section][vc_row][vc_column][distance desktop_type=”30″][lvs][distance desktop_type=”30″][vc_btn title=”Source – bestmag.co.uk” color=”sky” i_type=”material” i_icon_material=”vc-material vc-material-perm_device_information” add_icon=”true” link=”url:https%3A%2F%2Fwww.bestmag.co.uk%2Fnorwegian-vanadium-mining-needs-eu-regulatory-support-to-develop%2F|target:_blank”][distance desktop_type=”30″][vc_column_text]Speaking at the International Flow Battery Forum at the end of June, Jana Plananska of Norge Mining said Europe was dependent on China for vanadium, with 75% of imports coming into the EU from there. “There’s no native mining in Europe,” she said. “We need regulatory support of the EU’s critical minerals act, especially for planning and construction of production facilities, and an accelerated permitting process.”

    The company said in terms of global vanadium mine production, China accounts for 62%, Russia 20%, South Africa 11% and Brazil 7%, making it a “highly vulnerable” supply chain.

    Plananska said market demand is projected to grow rapidly: to 280,000 tons by 2030 from 112,000 tons in 2020. Demand will be driven by the flow battery sector, which is expected to represent up to 50% of vanadium demand by 2030.

    The company was founded in 2018 and has exploration rights for over 70 billion tons of phosphate rock in southern Norway, which the company says are the largest phosphate rock reserves in the world. Vanadium mining is due to start in 2028, she said. Norge Mining’s feasibility planning results are expected by 2025.

    The Norwegian government published a mineral strategy in June, based on five principles, including environmental sustainability, faster project implementation, use of private capital and international partnerships.[/vc_column_text][distance desktop_type=”30″][/vc_column][/vc_row][/vc_section]