John Vergopoulos has been managing Norge Mining Limited since its inception in 2018. Since then, the company has been on a journey of discovery. It has received confirmation that the licence areas contain world-class EU-Critical Raw Materials – phosphate, vanadium and titanium. John is now Chairman of the Board of Norge Mineraler. Here he explains the company’s repositioning and the market requirements that are being worked hard to meet.
“We will only work with companies that work to our own high standards. This is an absolute demand and is non-negotiable.”
Q: Norge Mining and their Norwegian subsidiary, Norge Mineraler, have undergone an important transformation – what has led to the shift?
JV: As a company, we are unrecognisable from when we first started in 2018. Then we knew that we had found significant deposits of critical minerals essential for the world’s green transformation in our exploration areas in the south-western part of Norway. But we did not know the details, nor did we fully understand how fundamentally important our deposits would become.
Our development has primarily been driven by the geopolitical changes in the world. So has the growing demand for solutions to achieve the zero-emission goals in the society around us. With the valuable resources we have in Norway, we can build an integrated supply chain. All the way with a focus on security of supply and delivery of products throughout the value chain of our Critical Raw Materials – phosphate, vanadium and titanium.
Q. Why have the markets changed so much?
JV: No one can any longer look uncritically to the world for a secure supply of critical raw materials for their own business. Geopolitics, proximity and origin are now important factors. This applies to safety, as well as environmental, social and governance (ESG) issues. And that is why we are now focusing on security of supply and how we can establish solutions for the good of the climate. The fact that we operate in Norway puts us in a fortunate position when we collaborate with industry and authorities in Europe. And even further afield, for example, the United States. Securing supply chains for Critical Raw Materials is not just about value; It is an absolute necessity in the new world order we see developing around us.
Q. In addition to ensuring the supply of Critical Raw Materials, it creates an integrated value chain. Why is this important for vanadium, phosphate, and titanium?
JV: Currently, we in the western part of the world are completely dependent on other countries for certain products and raw materials. This can lead to vulnerability in supply access. But most often, it also means that we import CO2 emissions – because we are dependent on how others produce materials and products. They may have less focus on CO2 emissions than we do. So, we already have an environmental disadvantage on imports. In Norway, we can use energy sources derived from renewable energy, where we can electrify operations and utilise technology such as carbon capture and storage (CCS). This is about creating value with a low climate footprint at the very beginning of the chain and ensuring that it continues all the way to the end user.
Q. Which partners will be welcomed into this new ecosystem for the procurement of Critical Raw Materials?
JV: Our ecosystem will be driven by the end markets and their demands. As I just mentioned, we already have advantages in terms of sustainability and very high requirements for CO2 emissions. The proximity to the markets that demand the raw materials is another great strength. We will only work with companies that work to our own high standards. This is an absolute requirement and is non-negotiable. And our partners demand the same from us; We hold a mirror up to each other. As a relatively new company, we have had to prove more than the established ones. And I would say we have passed these tests. We are very proud to work with some highly respected well-established companies with high skills and standards.
Q. The purity of Norway’s phosphate is very high – why is this important?
We have magmatic phosphate resources that are among the largest in the world – and they have a purity of over 96%. That means very little pollution. Few manufacturers, if any, can compete with such purity. Igneous phosphate makes up only 5% of the entire phosphate supply chain. The other 95% is made up of sedimentary phosphates. As for the downstream operations we are looking at, they require magmatic phosphate. And there are few other viable new European supplies currently under development.
The higher the level of purity, the greater the efficiency benefits in the final product. For example, in electric vehicle battery chains, igneous phosphate can be converted into LFP-rated purified phosphoric acid for LFP batteries. The alternative is lower quality sedimentary phosphate, which often means that you import CO2 via the supply chain. The efficiency benefits of our possible products will therefore have both economic and labour benefits.
“No one can any longer look uncritically to the world for a secure supply of Critical Raw Materials for their own business. Geopolitics, proximity and origin are now important factors.”
Q. Can you explain the restructuring of the company?
JV: Norge Mining Limited is the UK parent company. Our operational subsidiary, Norge Mineraler, is entirely Norwegian. Going forward, the company will be further developed based on the downstream opportunities in Norway and other European countries. This will create an integrated supply chain, with the Norwegian company, Norge Mineraler, at the forefront.
Q. What are the company’s next big announcements?
JV: The pre-feasibility study (PFS) will be published in the third quarter. This determines the economic sustainability of our project, although the initial findings are very positive and promising. We also expect an update of the Mineral Resource Estimate – which we expect to be significant.
