Norge Mining Advances Critical Minerals Supply with Eigersund Project Pre-Feasibility Study in Norway
Norge Mining has successfully completed the Pre-Feasibility Study (PFS) for its Eigersund Project, a key initiative for securing critical minerals in Norway. This milestone solidifies the project’s potential, especially amid a growing demand for essential resources necessary for green technologies, semiconductors, and batteries for EVs.
Critical Minerals and Strategic Imperatives
The PFS validates the project's business case, confirming that extraction can provide minerals such as phosphate, titanium, vanadium, and ferro magnetite. John Vergopoulos, CEO of Norge Mining, emphasized the necessity of ensuring self-reliance in the supply of these vital materials, particularly under current global uncertainties.
Economic Impact and Projections
- NPV of the project estimated at US$2.01 billion
- First 23 years of extraction projected at 20 million tons per annum
- Opportunities to reduce capital costs of US$2.31 billion
With the Eigersund Project, Norway positions itself as a cornerstone of Europe's critical minerals supply chain, meeting the challenges posed by global reliance on limited producers.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.