Nordic Mining holds emergency meeting to avoid bankruptcy

Nordic Mining is holding an extraordinary general meeting to consider financial restructuring and the issuance of new shares in an attempt to avoid bankruptcy. The company has faced significant liquidity issues, with its share price dropping 95 percent so far this year following warnings of technical production delays and unsustainable debt levels. The board has proposed converting a large portion of the company's debt into equity and extending remaining debt obligations.

Simultaneously, activists from Extinction Rebellion have blocked operations at the company's site in Vevring by chaining themselves to a conveyor belt. The protest targets the company's plans to dispose of tens of millions of tons of mine tailings in the Førdefjord. The activists are calling for the company to cease what they describe as unsustainable practices and instead focus on securing stable futures for workers.