Arctic Mineral Resources AS has been established to develop a modern, environmentally friendly, and profitable mining operation inside the Engebø mountain and underneath farm properties in Vevring, Naustdal, Norway.
The company was established as a joint venture between local landowners from the Vevring community in Naustdal, and the Oslo-based consultancy SLM Partners AS. The company holds the mineral rights to landowners' minerals on and underneath parts of the Engebø mountain and the local Vevring community. Most notably, these include the rights to garnet, a commercially attractive mineral abundant in the deposit.
The Engebø mountain and the Vevring farm land properties at the foot of the mountain
The Engebø mountain and parts of the Vevring community, situated in the Førdefjord at the west coast of Norway, contains one of Norway's largest deposits of eclogite, a rock type considered one of the "national rocks" of Norway. The Engebø eclogite contains high concentrations of almandine garnet, a reddish gemstone type of mineral for which industrial uses include sandblasting, abrasives and waterjet cutting. The eclogite also contains significant amounts of rutile.
Garnet constitutes a majority of the value of the Engebø eclogite and Arctic Mineral Resources is working towards establishing a commercially attractive mining operation based on garnet on a standalone basis. Tailings with high concentrations of rutile will either be handed over to an external party for further processing, or alternatively stored inside tailings deposits inside the mountain.
Arctic Mineral Resources is working with leading, financially strong mining players to develop a profitable project based on our rights to landowner minerals on parts of the mountain. The plans are being developed with an environment-first approach, with no open-pit mining, no waste disposal in the fjord, and industrial utilisation of gangue and tailings.
Arctic Mineral Resources AS will work with leading mining players to develop the project in accordance with current best practices for extraction, comminution, processing, and off-take of minerals, waste rock and tailings. This ensures amongst others optimal utilisation of all mineral resources.
This project will establish an environmentally friendly operation that saves the mountain top by only using underground mining, retains mineral-rich tailings by backfilling in underground caverns, and saves the local environment and community by minimising the surface footprint in every possible way.
Our analyses of the Engebø deposit, validated by Norwegian mining experts, prove that a highly profitable and financially attractive mining operation can be developed based on the landowners' minerals covered by the rights held by Arctic Mineral Resources AS.
The founders of Arctic Mineral Resources AS comprise five landowners in the Vevring community in the Norwegian municipality of Naustdal, the Oslo-based consultancy firm SLM Partners AS, and the Norwegian mining veteran Robert Hermansen.
The five landowners all live on traditional farm land properties that would be directly affected by mining operations on the Engebø mountain and underneath their properties. Their primary focus has been – and continues to be – the potential environmental impact of mining this mineral deposit. However, the landowners also appreciate what the Engebø eclogite could mean to the local society as a source of jobs and income, and to Norway as a supplier of industrial minerals to Europe as well as the receiver of corporate taxes from a future mining operation. To ensure that such a project is developed in accordance with their values, the landowners have now decided to actively engage in establishing an environmentally friendly alternative.
AMRs mining expert, Robert Hermansen, has held leading managerial positions in various mining and mineral refinery operations in Norway, including management positions in two iron ore mining companies, A/S Sydvaranger and LKAB, and the position as CEO in the Norwegian carbide factory Odda Smelteverk, located in the Hardangerfjord, and in Store Norske, the state-owned coal mining operation located on Svalbard. Robert is one of most renowned managers in the Norwegian mining industry.
AMRs processing expert, Nils Egil Johannessen, has 50 years of engineering and management experience, with a special focus on comminution and processing of industrial minerals. He has been a project engineer at Sibelco Nordic, held site- and processing manager positions at Norfloat, Franzefoss and North Cape Minerals. He is now a renowned mineral processing consultant, specialised in comminution, flotation and magnetic separation.
AMRs Chairman, Arnold Rørholt, has previously developed and headed the Department of Natural Resources in one of Norway's leading law firms, Schjødt, at which time he was referred to as one of the globally leading lawyers in the natural resources space. Furthermore, Arnold's family established and operated Ringerikes Nikkelverk in Norway in the 19th century, at times the world's largest nickel producing mine.
AMRs CEO, Tore Viana-Rønningen, has previously worked for a USD 3 billion private equity fund headquartered in London that together with experienced management teams established, developed and sold companies in the natural resource space, including mining companies. During his time in London, he had the privilege of working together with some of the most experienced industry experts in the natural resource space.
Copyright Arctic Mineral Resources AS 2019