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Business model & value chain control
A unique proposition
Collaboration is key to the success of this unprecedented project.
With the right strategic relationships – that bring together the interests of our various stakeholders – we can create a unique model for resource development that is tailored to the needs of industry and society, ensuring responsible value is created for all parties.
Exploration
World-class resource
Norge Mineraler is currently updating MREs and preparing mine plans.
Renewable grid electricity
Norway produces clean energy predominantly hydropower and wind.
Production
Magnetite, ilmenite and apetite
Mining of 3 minerals that are all on the EU Critical Raw Materials list and have sufficient grades and acceptable recoveries.
Ore production
Marketable ilmenite and phosphate concentrates plus conversion of vanadium oxides.
Circularity
World-class resource
A key ESG concern is the disposal of tailings, waste rock and other by-products of the mining operation.
Reutilisation
Potential use of waste rock for land restoration and industrial purposes including cement manufacture and artificial islands.
Processing
Concentration
Norge Mineraler’s upstream operations could be extended to include margin accretive downstream activities.
Minerals
Processing of phosphate, ilmenite and magnetite as well as reutilisation of concentration tailings and process residues.
Product
Materials
Production of phosphate to P4 (white phosphur) and ilmenite to TiO2 slag and refined Ti slag (for titanium metal) and processing of magnetite into vanadium and hematite.
Offtake
Export via rail, road and local port to proximate markets in Europe and beyond.
By-Product
Carbon capture
Prospective downstream operations would produce significant CO2, which can be captured and stored underground during mineral processing.
Storage and utilisation
Besides CO2, the off-gasesfrom white phosphor production can be utilised to produce green hydrogen through a water-gas shift reaction.
We are building an integrated supply chain – one that will enable security and deliver products sustainably at the beginning of the value chain.”
John Vergopoulos
CEO of Norge Mineraler
interview with
Michael Wurmser, Founder of Norge Mining LimitedThe whole concept of ‘just-in-time’ global trade is now being turned on its head – with companies, manufacturers and governments all starting to think more vertically.
It’s a forced re-think, but one that will create value chains that are less susceptible to global vulnerabilities; ones that are resilient and reliable.”
Market drivers
The world has experienced profound supply chain shocks, that have exposed the fragility of CRM dependency.
The need for dependable, unhindered access to CRMs that are vital to economic growth and the energy transition has never been more acute.
The ability to identify, develop and produce responsible materials that can be reliably supplied and ethically sourced is therefore an international imperative to address key global mega-trends of supply chain security and carbon net zero.
Asset value (upstream and downstream)
Our phosphate is the highest purity at 98%, from igneous rock deposits.
Impurities – like cadmium – are a headache in the processing phase, requiring huge energy to remove. The purity of our P2O5 is therefore very attractive to industry and carries a premium.
This testing has also commercially catapulted our downstream vanadium potential. Vanadium redox flow batteries (VRFBs) are becoming increasingly important as the world produces more renewable energy and seeks industrial capabilities of storing it. VRFBs are powerhouses of clean energy storage.
Our priority this year has been on phosphorus: Wet phosphoric acid (WPA) for the fertiliser industry and purified wet phosphoric Acid (PWPA) for lithium iron phosphate (LFP) batteries. Downstream production of these would increase the value of the minerals we have.
Aligning governments with our corporate strategy
In tandem with ascertaining the value of our CRMs, we’ve been in deep discussion with various governments, to align our corporate development to their CRM strategies.
We also continue to engage with the municipal, regional and national government of Norway. We’ve always had transparent and informative conversations, and we are grateful for their cross-party support.
Industry engagement (collaboration)
At the other end of the supply chain are the end users – the industries who need our products. And fast.
We have agreements in place with fertiliser companies and battery and car manufacturers.
From government to industry, our ambitious endeavours require cooperation the whole way along the supply chain.
A magnitude of high-grade resource like this is unprecedented, supporting a high calibre of globally demanded products. And to have downstream operations coming online potentially simultaneously, has never been done before.
Carbon border adjustment mechanism (CBAM)
The EU has introduced a mechanism to equalise the price of carbon between domestic products and imports, entering a transitional phase in October 2023
From 2026, EU importers will be required to purchase CBAM certificates to offset greenhouse gas emissions associated with certain goods, including fertilisers.
If fully implemented, the CBAM would realise significant competitive advantage in supplying EU customers from Europe.
Non-binding offtake letters of intent
To emphasise the significance of our resources in the worldwide market, we have entered into strategic cooperation’ agreements, granting various industrial partners access to our CRMs.
These agreements provide companies with assistance in their long-term resource planning and ensure regional stability of essential supply chains, which could be disrupted due to geopolitical tensions and economic or financial sanctions.
Further reading
Investors
Our investment case
Investors
Financing
Investors
Our strategy
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