Nordic Mining CEO Finn Ivar Marum has told the board he is stepping down effective September 30. The company named Otto Søberg interim chief executive. Marum is leaving to take a senior position outside the mining industry.
Chair Kjell Roland thanked Marum for leading the company through a difficult period and said he had built a team with the expertise needed to ramp up the Engebø project. Roland said Søberg’s management experience would help maintain continuity and progress.
The leadership change comes as Nordic Mining faces financial pressure. Earlier in September, the board said it would propose a restructuring. The company has warned it needs additional funding to continue operating through the autumn and has said its financing extends only to around mid-October. It has also reported difficulty bringing production up to expected levels.
Nordic Mining shares have fallen sharply on the Oslo Stock Exchange. The report gives no new details about the restructuring timetable or potential financing.