Nordic Mining ASA ( (DE:7NM0) ) has shared an announcement.
Nordic Mining ASA announced that production volumes at their Engebø site are lagging behind internal ramp-up plans due to design issues in the pump circuits. Temporary solutions were implemented, but the permanent equipment did not meet expectations, delaying the first shipments of garnet and rutile. The company is committed to reaching steady production capacity by the end of 2025, despite the current challenges affecting production ramp-up.
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 standards and significant economic potential. The company is engaged in a large-scale construction project at Engebø, Norway, where it has rights to a substantial eclogite deposit containing rutile and garnet. Nordic Mining also holds interests in other initiatives, including patented technology for alumina production and high purity quartz exploration.
YTD Price Performance: -19.12%
Average Trading Volume: 1,338
Technical Sentiment Signal: Buy
Current Market Cap: €205.9M
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