KIRKENES, NORGE – 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.
Orion believes that the fully permitted Sydvaranger mine with its high-quality iron ore product, excellent logistics will be a strategic asset as the world progresses to lower carbon, greener steel production.
Mike Barton, a managing partner of Orion, commented on the acquisition:
“Orion believes in Sydvaranger’s potential. Orion believes that the market for Sydvaranger high-quality iron ore is healthy and expects to find a solution that will put Sydvaranger back into production in the near future.”
Thomas Bækø, VP Sydvaranger Operations, comments:
“We are extremely pleased to welcome Orion back in playing an active role in Sydvaranger. Orion is rock-solid partner and are looking forward to being working closely together with the Orion team to unlock the great potential of Sydvaranger.”
For inquiries:
Thomas Bækø
VP Sydvaranger Operations
+47 970 17 084
admin@sydvaranger.com