External comparative study by SRK Consulting shows superior carbon footprint for Engebø

In March 2022 SRK Consulting (UK) Ltd, conducted an analysis to compare the
Green House Gas ("GHG") emissions associated with the Engebø project, with
existing operators in the global titanium value-chain. The comparative study
shows that Engebø Rutile and Garnet has the lowest carbon footprint compared to
five major operators. The annual GHG footprint of the Engebø project is 3,058
tons of CO2e with an estimated carbon intensity of 0.01 tCO2e per ton finished
product, which is one to two orders of magnitude lower than comparable
operators. The study was based on available information published by the
respective companies, predominantly in annual reports[1]. The comparative study
was based on reported Scope 1 and Scope 2 emissions[2]. The graph shows major
titanium raw material producers globally and related main regions of operations.


The calculated GHG emissions for the Engebø project was done by SRK and aligns
with the World Resources Institute's Greenhouse Gas Protocol Corporate Standard
("GHG Protocol"). The calculation includes scope 1 and 2 emissions and excluded
emissions from up and downstream in the value chain, described as Scope 3.

To further assess and benchmark the environmental performance and global warming
potential of the Engebø rutile product a Life Cycle Assessment ("LCA") is
currently carried out by UK based Consultant, Minviro. The LCA is a cradle-to
-gate analysis that covers all production stages from the mine to a finished
product. Results from the LCA will be published during Q2 2022.

For questions, please contact VP Resources and Sustainability Nordic Mining,
Mona Schanche, telephone +47 92281253.

Oslo, 2 May 2022
Nordic Mining ASA

Nordic Mining ASA (www.nordicmining.com)

Nordic Mining ASA ("Nordic Mining" or the "Company") is a resource company with
focus on high-end industrial minerals and metals. The Company's project
portfolio is of high international standard and holds significant economic
potential. The Company's assets are in the Nordic region.

Nordic Mining is undertaking a large-scale project development at Engebø on the
west coast of Norway where the Company has rights and permits to a substantial
eclogite deposit with rutile and garnet. Nordic Mining also holds 12.0% of the
shares in Keliber Oy, which is developing a lithium project in Finland to become
the first European producer of battery grade lithium hydroxide.

In addition, Nordic Mining holds interests in other initiatives at various
stages of development. This includes patented rights for a new technology for
production of alumina and exploration of seabed minerals.

[1] GHG is reported in tons of CO2 equivalent (tCO2e), meaning emission of non-
CO2 GHGs have been "normalised" to CO2 using their 100-year global warming

[2] Scope 1 refers to direct emissions from owned or controlled sources. Scope 2
covers indirect emissions from the generation of purchased electricity, steam,
heating, and cooling consumed by the reporting company.

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© Oslo Bors ASA, source Oslo Stock Exchange


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