Norge Mining has reached a significant milestone with its Eigersund Project in southwest Norway, where the company aims to secure critical and strategic minerals essential for various industries like food security, semiconductors, EV batteries, green technologies and defense. The project’s recent “Pre-Feasibility Study” (PFS) for the first of three zones—representing just 5% of the exploration area—independently confirms the business case for extracting phosphate, titanium, vanadium and ferro magnetite. The zone has an estimated net present value (NPV) of US$2.01 billion, with the potential for growth as optimizations are identified.
The Eigersund Project is part of Norge Mining’s broader exploration initiative across 520 km², and the capital cost for this first stage is estimated at US$2.31 billion, including infrastructure and mine development. Initial extraction is expected to produce 20 Mtpa over 23 years, setting a strong foundation for Europe’s critical mineral supply chain, which is strategically important due to reliance on major producers like China and Russia.
In line with environmental and sustainability goals, the company is also exploring commercial uses for the mine’s tailings through its NM R&D company, potentially benefiting industries such as construction and agriculture. The project’s next steps include a bridging study and a Definitive Feasibility Study (DFS), which will further optimize operations and assess downstream opportunities, including the production of white phosphorus, phosphoric acid, titanium metal, and vanadium.
This project is essential for Europe’s ambitions to establish a secure, sustainable value chain for critical raw materials, aligning with the increasing demand across industries.
