Rana Gruber iron ore mine technical report

Client & context

Rana Gruber AS operates iron ore mines in the Dunderland Valley in northern Norway. As part of its stock exchange listing process in Oslo, the company needed an independent technical report documenting mineral reserves and key aspects of the mining operation in line with the PERC Reporting Standard (2021).

To move ahead, the client required:

• A Competent Person to review geological data, mining information and modifying factors
• A PERC-compliant mineral reserve statement for open-pit and underground operations
• A full technical report suitable for public disclosure and exchange scrutiny

Challenge

The project took place in 2021, during the global Covid-19 pandemic, when:

• Travel restrictions complicated traditional on-site reviews
• Access to operations and drill core had to be carefully planned and executed
• The quality and completeness of data still had to meet strict PERC and exchange expectations

The challenge was to deliver a high-quality, independent technical report and mineral reserve estimate on time and within budget, despite logistical constraints and a rapidly changing operating environment.

Our approach

1. Competent Person review and site visit
   Gosselin Mining, acting as Competent Person under the PERC Reporting Standard, undertook a structured review of:
   • Geological and drilling information
   • Open-pit and underground mining data
   • Modifying factors relevant to reserve estimation and mine planning

Despite pandemic restrictions, we organised and completed a physical site visit to the Dunderland Valley operations, including review of drill core and mining activities, to validate data and assumptions on the ground.

1. PERC-compliant mineral reserve estimation
   Based on the validated data and mine plans, we:
   • Prepared PERC-compliant open-pit and underground mineral reserves for the project
   • Checked that modifying factors, mining methods, mine life and production rates were consistent with the deposit and operational reality
   • Ensured that the reserve statement met the requirements for public reporting and stock-exchange listing purposes
2. Technical report preparation
   We then compiled a comprehensive technical report covering mineral reserves and associated mining aspects, structured to:
   • Support Rana Gruber’s stock exchange listing in Oslo
   • Provide a clear, auditable basis for investors and regulators
   • Reflect the Competent Person’s independent view, as required under PERC (2021)

Results & value for the client

For Rana Gruber, the assignment delivered:

• A completed technical report on the Dunderland Valley iron ore project, prepared under the PERC Reporting Standard for stock exchange disclosure.
• PERC-compliant mineral reserve estimates for the operation, signed off by an independent Competent Person.
• A successful on-site review, carried out safely during Covid-19 while maintaining high technical standards in data verification and reserve assessment.
• Delivery on time and within budget, meeting project milestones and contributing to a smooth listing process on the Oslo Stock Exchange.

The project is a concrete example of how independent technical work, aligned with PERC reporting requirements, can de-risk disclosure and support capital-markets objectives.