GRANGEX AB (“Grangex”, “Purchaser”) today announces that it has executed a conditional sale and purchase agreement (“SPA”) with OMF Fund II H Ltd (“Orion”, “Seller”) for the acquisition of 100% of the share capital and shareholder loans of Sydvaranger Mining AS (“Sydvaranger”) from Orion for a total consideration of USD 33 million.

GRANGEX AB (“Grangex”) today announces that it has entered into an exclusivity agreement with OMF Fund II H Ltd (“Orion”) for the purposes of negotiating final definitive documentation in relation to the acquisition of 100% of the share capital and shareholder loans of Sydvaranger Mining AS (“Sydvaranger”) from Orion for a total consideration of USD 33 million.

Sydvaranger Mining AS (“Sydvaranger”) is pleased to announce that it was acquired by Orion Mine Finance (“Orion”) on 15th February 2023 from Tacora Resources. Orion, headquartered in New York, is one of the world’s largest mining-focused investment funds and been a financial partner involved in the project since 2018.

After three years of study at the Technical college in Kirkenes, Cato Johansen and Kim-Gøran Pettersen can call themselves Construction and Mining engineers with specializing in mining! In collaboration with Sydvaranger, they wrote their thesis on improvements to the processing plant in Kirkenes, as well as the design of a new crusher in Bjørnevatn.

Sydvaranger urges the residents of Sør-Varanger to stay clear of the company´s operational areas for safety reasons.

Monday 14 June, Sydvaranger had the pleasure of hosting a site visit in the mine for more than 70 students and teachers from the upper primary level at Hesseng Flerbrukssenter.

Wednesday last week was spring clean-up day for the SYD-Team. The clean-up day ended with a Company BBQ, which also served as a farewell to our amazing Senior Project Engineer, Paul Inge Norkyn.