Bluelake Mineral

Before mining can start in Joma, three different permits must be obtained: in addition to the environmental permit (Norwegianutslippstillatelse) and mining license (Norwegian driftskonsesjon), the zoning plan must also gain legal effect. Since the Norwegian Sámi Parliament has had an objection to the zoning plan, a mediation meeting has now been held between the Parties in order to investigate possibilities for this objection to be withdrawn. At the meeting, however, it emerged that the Parties were in disagreement and that a solution was therefore not possible. The Sámi Parliament's objection is linked to the process leading up to Røyrvik municipality's decision to approve the zoning plan, which it believes should have taken place after further consultations and after the supplementary regional and cumulative impact assessment for reindeer herding has been carried out. Røyrvik municipality, however, believes that the consultation process and decision on the zoning plan have taken place in a correct way with a complete basis for the decision and that the supplementary regional and cumulative impact investigation for the reindeer herding does not in fact affect the decision to approve the zoning plan itself. As the Parties disagree on these basic conditions, Røyrvik municipality now intends to decide at a meeting in the municipal council on January 23 whether the matter should be referred to the municipal and district ministry for a final decision.

In the EU's new mining legislation Critical Raw Material Act (CRMA) and in Norway's new mineral strategy, copper is singled out as a strategic metal and of great importance with respect to climate and environment, but also geopolitically. In order to achieve the goal of an increased degree of self-sufficiency in strategic raw materials, the importance of establishing new mines locally is emphasized. The mining plans in Joma involve reopening a mine that was previously in operation for 26 years between 1972 and 1998 and then operated in parallel with the reindeer husbandry in the area. During operation, the mine will be able to produce copper and zinc concentrates, both of which are very important inputs in the green transition. Above all, copper is absolutely critical as an input material in electrification and is found, among other things, in electric vehicles and facilities for renewable energy such as wind power, solar energy and energy storage. The mining project is estimated to be able to create approx. 115 direct jobs locally in Røyrvik and approx. 165 direct jobs regionally including the operation in Stekenjokk-Levi. In total, it is estimated that up to 500 jobs could be created if indirect jobs at subcontractors, in service and public administration are also counted. Through the electrification of the mine and the fact that all disposal of tailings will take place in old, already excavated mine tunnels, the project is uniquely positioned to become an environmentally and climate-smart mine.

"Joma could become Norway's first copper mine in operation in 25 years and a green mine in the true sense. The project will be an important economic growth engine in the region and will at the same time contribute significantly to efforts to mitigate climate change. Joma Gruver has, in the work with the zoning plan, carried out extensive investigations and adaptations of the planned mining operations in order to minimize the negative impact on the reindeer herding. We have also proposed an action plan and financial compensation to the local reindeer herding district Tjåehkere sijte. Røyrvik municipality does not seem to consider it likely that continued investigations and negotiations will lead to a solution. Therefore, we welcome this issue being resolved politically according to proposals from Røyrvik municipality. As the project is fully in line with Norway's new mineral strategy, we assume that the government decides to validate the zoning plan," says Joma Gruver's chairman Peter Hjorth.

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Stockholm, January 2024
Bluelake Mineral AB (publ)
The Board of Directors

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