Nordic Mining CEO resigns as firm grapples with restructuring and new waste permit

Finn Ivar Marum, chief executive of Nordic Mining, informed the board on Wednesday that he will step down effective immediately to assume a leadership position outside the mining sector. He will continue to advise the board and the new interim CEO, Otto Søberg, on permitting and government contacts until the end of the year. The company has been under pressure, having disclosed a comprehensive restructuring and seeing its share price plunge 41.6% on the same day, with a year-to-date decline of more than 94%.

Nordic Mining also received a three-year temporary emission permit from the Climate and Environment Ministry, allowing the disposal of 4.5 million tonnes of waste at Førdefjorden, a decision that follows a Supreme Court ruling that invalidated its previous permits. Marum said the permit removes a key uncertainty for the Engebø project, enabling continued production, local jobs, and the planned ramp-up. The leadership change adds uncertainty as the firm battles liquidity that is expected to last only until mid-October.