Nordic Mining secures emergency financing, avoids imminent bankruptcy

Nordic Mining and its subsidiary Engebø Rutile and Garnet AS (ERG) have secured a rescue package backed by over two-thirds of bondholders, providing up to NOK 130 million in emergency financing and royalty relief from Orion. This staves off immediate insolvency but is explicitly not a comprehensive solution, leaving the company's long-term viability uncertain. The development signals ongoing financial distress in the mining sector and potential credit event risk.

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