Q2 2024 Nordic Mining ASA Earnings Call Transcript
Key Points
- Nordic Mining ASA (FRA:7NM0) reported no lost time injuries for the second consecutive quarter, highlighting a strong safety culture.
- The company finalized a comprehensive environmental monitoring task force, ensuring a clear reference for the state of nature before production starts.
- Production ramp-up is on schedule to commence during the fourth quarter of this year.
- A five-year agreement was signed with a local mining operator, Sunnfjord Industripartner, ensuring local collaboration and expertise.
- The company successfully reduced foreign currency exposure through hedging and exchange, enhancing financial stability.
- The housing market in the Western world remains subdued, potentially impacting demand in the pigment sector.
- Geopolitical factors, such as EU's antidumping duties on Chinese imports, add uncertainty to the market.
- The company faces a long ramp-up period to achieve full production capacity, expected to extend through 2025.
- There is no significant update on the AlSiCal project, leaving its commercial viability uncertain.
- The process of transferring the stock listing to the main board at Oslo Stock Exchange is still in its early stages, with no clear timeline for completion.
Good morning, and welcome, everyone, to this webcast and second-quarter interim presentation here at Nordic Mining. My name is Ivar Fossum. I'm the CEO of Nordic. Together with CFO, Tord Meling; and Managing Director, Kenneth Nakken Angedal of Engebø Rutile and Garnet, we'll give you jointly the presentation this morning.
Please note that the full quarterly report, along with the presentation and the stock exchange release, has been published this morning. And please also note that the webcast will be recorded and posted on the website, so you can look at it later at any time you want.
As normal, you may post your questions when we do our presentations. And we will have a Q&A after we have finalized, where we'll read the questions allowed and do our best to answer all of those.
So with that, let's start. The agenda today is quite normal. After my brief introduction with highlights and a few other things, I will leave the word to Kenneth to give an updated and more detailed status on Engebø. I will give a few words
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