Nordic Mining Asa · OSL:NOM
Nordic Mining Asa — Q2 2025 Earnings Presentation
16 slides from Nordic Mining Asa's earnings presentation, Aug 19, 2025
Slide 1: Minerals for a Sustainable Future: Q2 2025 Interim presentation
MINERALS FOR A SUSTAINABLE FUTURE Q2 2025 Interim presentation August 19th , 2025
Slide 2: Disclaimer
DISCLAIMER This document has been used by Nordic Mining during an oral presentation. Therefore, this document is incomplete without the oral explanations, comments and supporting instruments that were submitted during the referred presentation. To the extent permitted by law, no representation or wa
Slide 3: Agenda
1. Introduction 2. Engebø Rutile and Garnet 3. Financial update Q2-2025 4. Q & A 3
Slide 4: Highlights and main events
Highlights and main events • HSE: 1 LTI • Official opening of Engebø Rutile and Garnet with representatives from local authorities and the government • First shipment of garnet • The ramp-up has continued with high operational activity but limited output in the second quarter • Improvements carried
Slide 5: Market update
Market update • The titanium dioxide prices were flat in Q2 across most regions compared to Q1 • The demand for titanium sponge remains strong while the pigment segment continues to be weak o We expect the market to be flat or slightly down in the next quarter • The garnet abrasive market is quite t
Slide 6: Agenda: Engebø Rutile and Garnet
1. Introduction 2. Engebø Rutile and Garnet 3. Financial update Q2-2025 4. Q & A 6
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Slide 9: Positive results after maintenance stop in July
Positive results after maintenance stop in July • Underperforming slurry pumps were modified to achieve design flow rate according to plan • Adjustments/changes to bulk material handling transfer chutes, were also carried out to improve material flow, reduce spillage and increase operational time on
Slide 10: Production statistics
Production statistics Threefold focus for the ramp-up • Increase towards designed throughput in each mineral liberation and separation step • Increase operational time of the plant to design • Increase recovery and production volume of mineral concentrates Plant throughput achieved after maintenance
Slide 11: Production continue ramp-up
Production continue ramp-up Mineral production volumes Targeting annual production rate end of 2025 235 kt • Production ramp-up continues with target of stable production at design capacity for rutile and 35 kt garnet by year end Q1 Q2 Q3 Q4 2026 2027 2028 2029 2030 2035 2040 2045 2050 2055 2060 206
Slide 12: Agenda: Financial update Q2-2025
1. Introduction 2. Engebø Rutile and Garnet 3. Financial update Q2-2025 4. Q & A 12
Slide 13: Cash flow impacted by high operational activity in the quarter
Cash flow impacted by high operational activity in the quarter Quarterly cash flow (mNOK) 636 Operational activity of NOK 93 million ( 93) ( 44) • High activity in the second quarter 439 ( 43) • A negative operating cash flow influenced by timing ( 17) effects on working capital in the quarter Inves
Slide 14: Financial results – first commercial sale
Financial results – first commercial sale Group level Profit and Loss (mNOK) First commercial sale • Revenue of NOK 2.7 million from sale of garnet Q2 2025 Q2 2024 1H 2025 1H 2024 Operating expenses Revenue 2.7 - 2.7 - Payroll and related costs (11.7) (1.8) (19.3) (4.6) • High activity in the mine a
Slide 15: Agenda: Q & A
1. Introduction 2. Engebø Rutile and Garnet 3. Financial update Q2-2025 4. Q & A 15
Slide 16: Consolidated statement of financial position
Appendix Consolidated statement of financial position NOK million Q2 2025 Q1 2025 YE 2024 Mine under construction - - 2 654 Producing mine 484 433 - Property, plant and equipment 2 349 2 359 97 • Total combined carried amount of Producing mine, Property, plant and Intangible assets 21 20 - equipment