The latest exploration by Nordic Iron Ore has revealed promising results regarding high levels of rare earth elements (REE) in and around iron ore deposits in Blötberget. This opens up opportunities for the sustainable extraction of these critical metals, which are essential for renewable energy technologies and thus the green transition.

The EU has recently adopted the Critical Raw Materials Act to speed up regulatory processes for mining within the Union and reduce dependence on imports of rare earths. This legislation is not only a step towards self-sufficiency but also an important contribution to environmental objectives.

The company's CEO, Ronne Hamerslag, expresses enthusiasm about the promising results and looks forward to integrating sustainability into the mining industry. He emphasizes that the company aims not only to generate additional revenue from by-products containing these metals, but also to contribute to a greener future by exploring opportunities to extract phosphorus and rare earth metals in an environmentally friendly way.

The green perspective of these findings is particularly important given the use of these metals in the manufacture of permanent magnets for electric cars and wind turbines.

The new EU legislation, the Critical Raw Materials Act, which aims to increase EU self-sufficiency in critical metals, is likely to benefit Nordic Iron Ore and its sustainable ambitions.

The EU's commitment to refining 40% of its own metals and raw materials and recycling 25% of the use of these metals by 2030 is in line with sustainability goals. Reducing imports and increasing self-sufficiency within the EU is not only economical but also a forward-looking step to promote environmental goals and preserve our planet for future generations.

RESULTS FROM THE SAMPLING PROGRAM

• TREE content of 15,285 ppm in the hanging wall (drill sample at 346-348 meters depth).
• TREE content of 6574 ppm in the bedrock (drill sample at 393-394 meters depth).
• TREE grade of 1167 ppm in the primary ore body (drill sample at 546-558 meters depth)
• TREE grade of 876 ppm in the primary ore body (drill sample at 548-566 meters depth).
• Average TREE content of 1127 ppm in the sand reservoir, 5 samples.
• The proportion of Neodymium (Nd) + Praseodymium (Pr) + Dysprosium (Dy) in TREE content is 21%.

As the studies are at an early stage, no certified standards have been used to ensure the integrity of the analysis process.