Q1 2025 Nordic Mining ASA Earnings Call Transcript

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May 21, 2025

May 21, 2025 / 08:00AM GMT
Finn Marum - Nordic Mining ASA - CEO

Good morning, and welcome to Nordic Mining's first quarter presentation. My name is Finn Marum, and I'm the new CEO of Nordic Mining. I'm joined here today by Tord Meling, who's our CFO; and Kenneth Nakken Angedal, who is the Managing Director at Engebo. Following my introduction, Kenneth will cover operational status at Engebo, and then Tord will go through the financial status, and then we'll end off with a Q&A session.

We keep a strong focus on health and environment and safety at Nordic Mining, building on a solid track record that was created during the construction phase. During the first quarter, we had one minor Lost Time Injury. However small, it's one to many. The first quarter marked a transition from construction to production ramp-up. Our progress was hampered by issues related to plant design. Consequently, volumes have been lower than what we would have wanted.

As Kenneth pointed out in the fourth quarter presentation, production ramp-up is the riskiest phase, riskier than construction. We have a new process plant in a unique

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