The Business-idea and an overview

The business idea behind Norse Minerals AS is around the possibilities in the mountain area on the property at Iveland municipality in Aust Agder – which consist of minerals – a property that has 568 acres of land, and is saved through a landowner agreement and production rights that extends over 12 domains.

The company’s shareholders had a wish to create mining in an area that is known for its mining history, and within the Norwegian border. It has, so far, been a successful project.

The area consists of attractive minerals that is sought on the world market. A sought that is expected to rise in the following years.

In addition to the right of recovery on the property, the company also has a right of recovery on the parts of the property adjacent to the property. In total, the right of extraction is around 889 acres. In addition, the company ensured 22 km2 with exportation rights in the area in 2017.

Geologists have estimated the volume, only on the property’s occurrence, to be millions of tons. The occurrence is considered homogeneous, which is considered positive in terms of processing and on the basis for long term supply agreements.

Norse Minerals AS wishes to use modern technology to separate the minerals in an environmentally efficient manner, with the minimum use of energy, water and chemicals. The company considers that mining will create jobs in several parts of the country. Today, there is found 115 different minerals in the areas bedrock, and by this the pegmatite’s Norse minerals wishes to extract from the mineral extraction.

Through several explorations conducted by the Norwegian Geological Examination (NGU), have found very interesting findings of industry quartz and feldspar, rare earth metals (HREE and LREE), and other metals.

The prevalence is considered by geologists to probably be Southern Norway´s most famous pegmatite occurrence, and at the height of Norway’s largest occurrences, possibly also Northern Europe’s largest occurrence.

Pegmatite is a type of granite, consisting of mainly feldspar, quartz, and other minerals, with a grain size of more than one centimeter and up to more than one meter. Large grain size makes it easier to separate the minerals.

The professor at the Department of Geology and Mountain University (NTNU), has prepared several reports of mineral deposits to Norse Minerals AS.

Based on the statements to geologists and entrepreneurs, the area appears to be operational-friendly for mass extraction. This is based, inter alia, on terrain design with a favorable height difference and closely to road and rail.

The company’s background – History

Norse Minerals AS, org. Number 990 857 938, has their business address in Oslo.

The company´s purpose is trading, buying and selling minerals, mining and other mining activities. Management of rights and including participation in related companies.

In the area that the the company owns, there are two earlier outlets where minerals have been extracted from the industry – Slobrekka and Tuptane/Tuftane mines. These areas are known for their rich mineral wealth, also internationally, designated as very special areas for minerals.

The company has put a lot of work into research and geological reports. It is among other things made core drillings (about 900 meters) on the occurrence distributed on 21 core wells in varying depths. The investigations form the basis for the company to have been granted a right of extraction from the Directorate for mineral management. In addition to geological examinations the company has also obtained market research and reports showing the profitability of the project. The company is continuously working on further investigations of the occurrence to strengthen the plans for mass extraction.

Area of operations

The company itself intends to take care of the mass extraction of minerals and in essence, it is desired to process on-site processing. According to the company, this solution will provide the best financial results for the operations overall.

The mines will in its entirety operate as open-pit. This provides a rational operating form and the consideration/safety of those working within the mine can be safeguarded. One of the company’s foundations is to create jobs within mining. The establishment of industrial activities will create jobs in the local municipality, and also provide positive effects in the entire region.

MINERALS – THE MAIN PRODUCTS

The raw materials of Norse Minerals AS is a granitic pegmatite, consisting mainly of Quartz, Feldspar and mica. In addition to these main materials, there are some rare earth minerals that are highly sought after.

Quartz can be used for example for: Glass, fiberglass, ferrosilicon, silicomanganese, silicon carbide, silicon metal, cement.

Feldspar can be used for example: Porcelain, sanitary porcelain, ceramic tiles, anti-electrostatic tiles, electrophori, high temperature glass, insulation, agricultural improvement, asphalt additives.

REE minerals can be used for: High technology components in mobile, tablets and computers, special alloys in metal, fiber optic cables.

GREEN PROFILE

Norse minerals AS wishes to conduct mineral extraction in an environmental friendly- and socio-economic way. This will be done by using modern process and separation methods, recycling etc.

THE MARKED

It is already clear that the company´s quartz and feldspar can be used directly in the manufacturing industry. Within the market, there are different requirements and needs related to quality and purity.

It is known that chemical analysis of feldspar, from the area, shows very good results. The feldspar is characterized to belong to the category of high quality feldspar. Analyzes of the quartz are also promising. The quartz is classified by an industry producer in solar cell production as approved for use in their industry. Other industrial players also said that they can use the quartz of Norse minerals AS in their production. The REE-minerals in this case are predominantly of the HREE (Heavy Rare Earth Elements) category, and these have the status of being the most sought after REE-minerals on the world market.

In addition, several attractive types of minerals have been detected, and the company assesses the value of these consecutive along with geologists.

STRATEGY/OBJECTIVES

Norse Minerals AS currently consist of 70 shareholders. The company is working on raising capital through aiming at new shareholders. This involves initiating cooperation with a major investor to develop the company in the process of operation.

For several years, Norse Minerals AS, has worked rationally and strategically to verify the opportunities that lie in the instance. In this connection, it is very encouraging to report that a broad professional competence from the mining environment is very positive to the company´s plans for the mining industry.

The company is currently working closely with NTNU and their expertise, as well as other mining expertise.

FUTURE MARKETS

Mineral production and processing of minerals differs from other industrial activities in several ways. The mineral industry forms a basis in the value chain and supplies the industry with raw materials that is used in the production, of a wide range, of materials that people use in modern society. In this way, todays society is just as dependent on the mineral industry and the materials that come from our bedrock as the people who lived back in the Stone Age. The mineral industry will therefore always constitute an essential foundation for any society.

The main constituent of the occurrence, quartz and feldspar, are very useful raw materials for the industry, and demand will only continue in the future market. The prevalence of REE minerals is very positive, given the increasing demand for technology and the green shift that is an important element in todays society.

Norse minerals AS´s products will be used to help the community implement the green shift.

NORWEGIAN STONE WORTH 8000 BILLION NOK

A report presented by NHO shows that the Norwegian scree has values that can yield revenues of up to 8000 billion NOK.

The Norwegian Geological Examination (NGU) has produced the report “Minerals for the Green Change”, in connection with the NHO Annual Conference in early 2018.

It presents the proven and estimated resources in the ground, represent values of 2500 billion NOK.

  • “It´s very exciting, because of the large extent of minerals that can be used in mobiles, electronic cars, airplanes and wind turbines can contribute to the green shift, that we need to achieve, if we are to reach our climate goals”, says NHO – manager Kristin Skogen Lund.

The website is written to the best of our ability and based on the information provided by geological reports and prepared documents. The board of Norse Minerals A / S is not legally responsible for the content on this website.

The background material is available if requested.

Contact us

Norse Minerals AS has a business address in Oslo. The occurrence of mineral extraction is located in the municipality of Iveland in Agder County.

For further information or other inquiries, use the contact form or by phone

Managing Director tel: +47 928 50828