We’ve known for a while now that Norge Mining’s deposits of EU Critical Raw Materials in Norway are both vast and valuable – in terms of how they can lead to more secure global supply chains of vanadium, phosphate and titanium.
1.55 billion tonnes
Now we can say with certainty that we have a world-class mineral resource confirmed at Øygrei, with an estimate of 1.55 billion tonnes containing potentially economic vanadium, titanium and phosphate – and the potential for up to a further 2 billion tonnes of resource.
Future uses for our EU CRMs
Øygrei is a small part of our wider Bjerkreim Exploration Project; we now know this houses more than 70 billion tonnes of mineralised rock containing these three EU CRMs. These are defined as materials of strategic importance for the European economy, but with a risk associated to their supply. These minerals are already vital ingredients in many established global industries. However, they are increasingly being used for innovative products for our more sustainable, greener futures; this is where our world-class resource becomes even more exciting.
Phosphate & EV technology
‘As we decarbonise our global automotive sector, lithium-ion phosphate is emerging as a leading alternative to battery technology that contains manganese and cobalt,’ says our CEO, John Vergopoulos. ‘It’s not only a lot more environmentally-friendly, it also avoids materials coming from violent conflict zones like the DRC. That means phosphate may soon have a valuable new use, other than its already widespread demand in fertiliser production.’
Established industry demand
This is not to downplay their existing uses, that are both extensive and lucrative: as mentioned, phosphate for eco-friendly fertiliser, vanadium for redox flow batteries that are powerhouses of renewable energy storage and titanium for the paint industries – among other significant ones. We’ve started marketing reports now for vanadium, and titanium and phosphate will follow.
Exceeded expectations
‘This initial resource estimate has exceeded all expectations,’ says John Vergopoulos. ‘We have now confirmed that Øygrei alone, which forms a small part of the Bjerkreim project, represents a world-class deposit of vanadium, titanium and phosphate. All three of these minerals are on the EU’s list of Critical Raw Materials, on which Norge Mining is focused.’
Ongoing investigations
During the past two years, we have conducted extensive exploration work at Bjerkriem, including channel sampling, aerial surveys and shallow and deep drilling. We’ve completed more than 24,000 metres of drilling. This exploratory work, which is ongoing, has built on earlier studies by the Norway Geological Survey (NGU), that first identified the potential of the untapped resources.
What’s next?
Our next focus will be the scoping study; now we know what we have with much greater accuracy, we need to decipher how to approach important aspects like the order of mineral separation and the technology involved. We are working with our trusted geology partners SRK on this. However, this is just the start of more announcements to come, as we investigate our other licences areas further – and reveal more significant findings that have the potential to change Norway’s economic future.
