Engebø Rutile and Garnet AS: Operational update

30 Mar 2025 22:55 CEST

Engebø Rutile and Garnet AS/Nordic Mining ASA informs that production volumes at
Engebø are behind the internal ramp-up plans due to design issues in the pump
circuits. As announced in the interim report for the fourth quarter 2024 which
was released on 11th February, temporary short-term solutions were put in place
while awaiting remedied equipment. The permanent solution was delivered
installed by the responsible contractor. However, the equipment did not perform
according to expectations. Consequently, the first shipments of garnet and
rutile will be delayed.

We are experiencing challenges related to the design of the slurry pump circuits
which will potentially require modifications on several units to gain sufficient
capacity to be able to reach steady state production at design capacity. This is
affecting the ongoing production ramp-up, and we are currently only producing
garnet and at a lower volume than planned. Despite these issues, Nordic Mining
remains committed to reaching steady production at design capacity for both
rutile and garnet by the end of 2025.

Oslo, 30 March 2025
Engebø Rutile and Garnet AS

More information:
Access the news on Oslo Bors NewsWeb site