“This is a historic milestone for Nussir, both through managing to raise enough capital to start the initial work for construction, and through having raised 100 percent local capital and thus increased North Nowegian ownership of Nussir ASA”, the company writes in a press release.
In a General Assembly Monday, Nussir ASA approved targeted issue towards North Norwegian industrial investors of more than NOK 80 million.
The capital will be used towards establishing the industrial area, access tunnel to the copper deposit and towards strengthening the organization.
“This issue will be key in triggering electrification support from Enova of up to NOK 165 million”, the company further states.
Nussir is a copper mine project located in the Reppar Fjord, Hammerfest municipality, near the North Cape in Norway. The company recently announced a giant agreement with the German company Aurubis about sales of its future copper production, as well as a long-term agreement with LNS for its underground operations.
“It is a big deal for us at Nussir to now have new, strong industrial investors and community builders from Hammerfest, Alta, Kirkenes and Risøyhamn. They now step up to take part in realizing the mining project through adding valuable knowledge as well as capital” says CEO Øystein Rushfeldt and adds:
“Now we will be able to lift more and look forward to start establishing a new cornerstone company in Hammerfest municipality. We also hope the time is ripe for arriving at a positive agreement with reindeer herders in the area.”
The company aims to become the world’s first fully electrified mine and completely CO2 emission free. The project will employ some 200-300 people during its operational phase.
This article was originally published in Norwegian and has been translated by HNN's Elisabeth Bergquist.