Nordic Mining Asa · OSL:NOM
Nordic Mining Asa — Q3 2023 Earnings Presentation
21 slides from Nordic Mining Asa's earnings presentation, Nov 7, 2023
Slide 1: Minerals for a sustainable future
Minerals for a sustainable future Q3 2023 interim presentation 07 November 2023
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: Introduction, Engebø Rutile and Garnet, Financial update
1. Introduction 2. Engebø Rutile and Garnet 3. Financial update Q3-2023 4. Q & A
Slide 4: Q3 2023 Highlights
Introduction Q3 2023 Highlights • No Lost Time Injuries (LTI) in the 3rd quarter Safety & • 565 days to date without LTI ESG • Baseline environmental measurements continued • NOK 266 million invested in Engebø in 3rd quarter Progress • Approx. NOK 1,1 billion invested in total • 100% of process equi
Slide 5: MoU with Saferock on product development to utilize tailings
Introduction MoU with Saferock on product development to utilize tailings • Joint product development project to use residual mineral waste streams from Engebø Rutile and Garnet project in the production of cement binders • Saferock is a Norwegian technology company developing a product that may red
Slide 6: Mr. Jens G. Schnelle hired as new CFO
Introduction Mr. Jens G. Schnelle hired as new CFO Mr. Jens Gisle Schnelle has been employed as Chief Financial Officer (CFO) as from October 15th, 2023. Schnelle has broad financial background from various shipping companies both national and internationally in the position as financial analyst, fi
Slide 7: Agenda: Engebø Rutile and Garnet
1. Introduction 2. Engebø Rutile and Garnet 3. Financial update Q3-2023 4. Q & A
Slide 8: Health & Safety
Engebø Rutile and Garnet Health & Safety Key Performance Project to HSE status Q3 Target indicator date3 ▪ No lost time injuries recorded in the period. Lost time injuries (1/1 million working 0 0 <2,51 hours) ▪ Focus on working in heights and lifting operations Total recordable injuries (1/1 millio
Slide 9: Construction on track to start production in Q4 2024 at budget
Engebø Rutile and Garnet Construction on track to start production in Q4 2024 at budget Highlights PROGRESS ▪ Progress in engineering with i.a. completion of Design Freeze. ▪ Certified information from mechanical packages incorporated into design and 2022 2023 2024 HAZOP1 completed for main processi
Slide 10: Laydown areas ready for arrival of steel, pipes and mechanical equipment
Engebø Rutile and Garnet Laydown areas ready for arrival of steel, pipes and mechanical equipment 1) Left: Laydown area with steel structures for primary crushing station, piping and cable sleeves 2) Right: Laydown area with crane ready for mechanical installations 10
Slide 11: Concrete works close to finalized for main process buildings
Engebø Rutile and Garnet Concrete works close to finalized for main process buildings 1) Left: View over main process area 2) Top right corner: Concrete foundation for comminution plant 11 3) Bottom right corner: Concrete foundation for wet plant
Slide 12: Groundworks; preparing for site wide utilities and product silos
Engebø Rutile and Garnet Groundworks; preparing for site wide utilities and product silos 1) Left: Cable sleeves for electrical cables laid down and covered in the main process area. 2) Top right corner: Prefabricated E-house for Transformer and MCC installed in Primary crushing chamber. Concrete fo
Slide 13: Fabrication of mechanical packages are well underway
Engebø Rutile and Garnet Fabrication of mechanical packages are well underway Fabrication CPI1 Package name In fabrication • All CPI1 packages for the process plant are in fabrication. Technical clarifications are Wet Vibrating Screens √ finalized and certified information have been issued to EPCs S
Slide 14: Progress of process plant aligned with arrival of mechanical packages
Engebø Rutile and Garnet Progress of process plant aligned with arrival of mechanical packages Comminution Wet Plant Dry Plant • Primary crushing station steel has arrived site • >85% of concrete foundation work is • Detail engineering has optimized the awaiting finalization of concrete. E-houses fo
Slide 15: Recruitment of operational resources according to plan
Engebø Rutile and Garnet Recruitment of operational resources according to plan • Onboarding of key management resources complete and already focusing on building up business systems for operations • Successful recruitment program in Q3 securing planned onboarding in Q1-24 • Maintenance management a
Slide 16: Strong Rutile demand in the Ti-metal market segment
Engebø Rutile and Garnet Strong Rutile demand in the Ti-metal market segment TiO2 market: - Titanium-related markets, such as welding and especially the titanium sponge market, are experiencing thriving demand - high activity in the aerospace and defense industry - high demand for non-Russian titani
Slide 17: Agenda: Financial update Q3-2023
1. Introduction 2. Engebø Rutile and Garnet 3. Financial update Q3-2023 4. Q & A
Slide 18: Fully funded up to production: ~ NOK 1 billion invested in Engebø mine
Financial update Q3-2023 Fully funded up to production: ~ NOK 1 billion invested in Engebø mine ▪ Engebø construction expenditures of NOK 266 million capitalized under «Mine under construction» in Q3. o «Mine under construction» consolidated carrying amount at end of Q3 of NOK 1.1 billion. ▪ The Gro
Slide 19: Highlights and Q&A
No Lost Time Injuries (LTI) in the 3rd quarter + 565 days to date without LTI + Baseline environmental measurements continued —_ii yp N . "NOK 266 million invested in Engebg in 3 quarter \ aan + Approx. NOK 1,1 billion invested in total . 71 00% a PREEEES equipment contracted and in fabrication to d
Slide 20: Consolidated income statement
Appendix Consolidated income statement NOK million Q3 2023 Q2 2023 Q3 2022 YTD 2023 FY 2022 1 Main financial items in Q3: Other income - - - - - - net loss on foreign exchange Payroll and related costs (4.9) (2.8) (2.8) (12.2) (11.7) related to the bond and bond Depreciation and amortization (0.1) (
Slide 21: Consolidated statement of financial position
Appendix Consolidated statement of financial position NOK million Q3 2023 Q2 2023 YE 2022 Mine under construction 1 1 055.0 788.9 288.4 1 Engebø construction works of NOK 266 million, Property, plant and equipment 3.1 1.0 1.1 Right-of-use assets 0.0 0.0 0.1 capitalized under «Mine under construction