Technology

Norge Mining: Major European mining project to supply critical materials for decades

Published

2 years ago

September 9, 2024

From food security to defence, project milestone ensures independence of supply chain at time of geo-political uncertainty

LONDON, Sept. 9, 2024 /PRNewswire/ — A mining project qualified to be fast tracked by the Norwegian Government is now set to secure critical and strategic minerals, (essential for food security, semiconductors, batteries for EVs, green technologies and defense), having achieved a major milestone which proves the project’s viability.

With growth in demand but a reliance on a limited number of producers, such as China and Russia, the creation of a new integrated value chain for critical raw materials in Europe has become a strategic imperative.

Norge Mining, the Anglo-Norwegian mineral exploration company with world-class resources of Critical Raw Materials in southwest Norway is pleased to have the business case for its Eigersund Project independently confirmed, paving the way for guaranteed supply to industries in Europe and beyond for decades to come.

The “Pre-Feasibility Study” (“PFS”) for the Eigersund Project, an environmentally and socially sustainable greenfield mining project, has been successfully completed for the first of the three zones, which represents only 5% of the entire exploration area, proving the business case of extraction of phosphate, titanium, vanadium and ferro magnetite.

John Vergopoulos, Chief Executive Officer of Norge Mining, said:

“Today’s news is a major step forward for ensuring the safe supply of critical minerals, without which many of the industries on which we rely so heavily, in particular our food supply and green technologies, would be severely compromised. At a time of real uncertainty, the need for self reliance in the supply chain of critical materials has never been starker. The confirmation of Norge Mining’s business case is a significant step towards delivering a vertically integrated, European supply source of EU Critical and Strategic Raw Materials. This has been achieved without compromising our commitment to the highest standards of environmental and social sustainability which are guiding the development of our business.”

The PFS gives the one zone of the Eigersund Project a net present value (“NPV”) of US$2.01 billion and states that this is expected to increase as the project progresses and optimisations are identified. Supply of CRMs and strategic minerals from this first zone is set for the first 23 years of extraction with an expected yearly output of 20 Mtpa to begin with.

The Eigersund Project is located at the Company’s Storeknuten exploration area, which totals 26km2 and now has a JORC Mineral Resource statement totalling 3.2 billion tonnes, represents just 5% of the Company’s 520 km2 of exploration licences in southwest Norway. The Eigersund Project represents the first stage of the Company’s planned mining operations.

The capital cost of the Eigersund Project is estimated in the PFS at US$2.31 billion, which includes the capex associated with the open-pit mine, tailings, beneficiation and infrastructure development. Opportunities to reduce the capital cost will be assessed as the project progresses.

Extraction rights for the Eigersund Project were awarded by the Norwegian government in June this year along with extraction rights for all of the Company’s other exploration licence areas marking the largest ever awarded area of over 26km2 in Norwegian history.

The Company is committed to achieving the highest standards of sustainability at the Eigersund Project and has established a research and development company in Norway, NM R&D, which is investigating alternative uses for the mine’s tailings, potentially finding commercial applications in construction, agriculture and other industries. In addition to reducing the need for tailings deposits, such applications would further enhance the Eigersund Project’s economics.

Following completion of the PFS, a bridging study is being conducted to assess project optimisation and opportunities such as tailings utilisation. Once this bridging study is complete, a Definitive Feasibilty Study (“DFS”) will commence.

The PFS was compiled jointly by the Company’s engineering and mining consultants, Hatch, Norconsult and SRK. It is based on the most recent JORC compliant resource statement for Storeknuten which was announced on 25 June 2024.

At the same time as working on the PFS, the Company and its consultants have been progressing the potential for including downstream activities in the Eigersund Project, particularly relating to the production of white phosphorus, phosphoric acid, titanium metal and vanadium. This work is progressing well and is expected to be concluded in parallel with the DFS.

The Company has founded a business in Germany, NM Deutschland GmbH, to evaluate and develop downstream opportunities in phosphorus. This significant opportunity recognises that phosphorus-based industries require high standards of sustainability in upstream and downstream processes to ensure the ESG credentials of their own products. They are also reliant on secure supply chains.

Contacts: +44 (0) 20 7466 5000 / norgemining@buchanan.uk.com

Norge Mining
John Vergopoulos, CEO

Burson Buchanan
Mark Court / George Pope

About Norge Mining

Norge Mining is an Anglo-Norwegian natural resources company focused on mineral exploration in Norway.

The Company’s JORC resource estimates from the Bjerkreim Exploration Project in southwest Norway have confirmed world-class deposits of the EU Critical Raw Materials phosphate, vanadium and titanium, materials with key roles in the clean energy transition, security of food supply and other areas. The provenance of these materials is also of significant strategic importance for net carbon zero and ESG commitments, a key requirement for which is supply chain transparency.

Norge Mining, which owns 61 exploration licences totalling more than 520 square kilometres in Norway, including extraction rights, is conducting a programme of exploration work, building on earlier studies by the Geological Survey of Norway (NGU).

Founded in November 2018, the Company is headquartered in the UK and has a 100%-owned Norwegian subsidiary, Norge Mineraler AS. The Company’s ambition is to become a substantial, sustainable and strategically important exploration and mining business in Europe.

For further information, please visit www.norgemining.com

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SOURCE Norge Mining

Technology

VYLIT OPENS ITS CREATOR ADVISORY BOARD, GIVING CREATORS EQUITY IN THE PLATFORM

Published

49 minutes ago

July 23, 2026

Reality star & chef Dom DeAngelis, model & creator Cydney Moreau, and creator-entrepreneur Crystal Jackson named as founding members, with applications now open for creators who want a voice in how the platform is shaped

MIAMI, July 23, 2026 /PRNewswire/ — Vylit, the 18+ creator-first social platform co-founded by Ami Gan, former CEO of OnlyFans, and seasoned entrepreneur Kailey Magder, is opening applications for its Creator Advisory Board, which will include a select group of creators that will have a strong voice in shaping the platform they use and earn on.

Vylit is inviting creators not just to join the platform, but to help build it, with real shares in the company reserved for those who contribute to its growth, culture and direction. The Creator Advisory Board will give creators a direct voice in building Vylit’s community, the platform’s development and creator tools, along with ownership in the business they’re helping grow.

Applications are now open. Creators can apply by emailing vylit@vylitworld.com with their name, bio and social handles.

Vylit is launching the board with three founding members who show the range of creators it’s built for.

Dominic DeAngelis, known from YouTube and Vanderpump Villa, where his culinary skills earned recognition from viewers around the world, has been using the platform to share behind-the-scenes and day-in-the-life content with his subscribers — the kind of direct, monetized relationship with fans that Vylit is designed around.

“Social media sucks right now. The algorithms are negative, you don’t even see the people you follow anymore, and creators are struggling to find real connections with their fans,” said DeAngelis. “I’m thrilled to be part of a platform that’s doing it differently. Vylit is actually listening to creators and building with us, not just for us.”

Cydney Moreau, a Louisiana-born former track athlete turned model and creator with a following across fitness, fashion and lifestyle, balances her work with life as a mom. Vylit is where she’s turning that following into a business for the first time, on her own terms.

“As someone who is monetizing my content for the first time, knowing that I will have a say in how the platform treats other creators means everything,” said Moreau. “It’s not every day a platform actually wants creators in the room while they’re building it. Knowing Vylit is making decisions with our interests at heart gives me the confidence to build here, and I’m excited to help shape where this goes.”

Crystal Jackson, known to millions of followers as Mrs. Poindexter, is the co-founder of EssentL, a company building business infrastructure and benefits for creators. A former engineer turned multi-platform creator and entrepreneur, she brings an operator’s understanding of what creators actually need from the platforms they build on.

“I’ve spent years building an audience and a business across platforms that weren’t built for today’s creator ecosystem,” said Jackson. “What drew me to Vylit is that they’re handing creators actual ownership and a real say in the decisions that affect us. That’s not something I’ve seen anyone else do, and I want to help build it right.”

Since launching, Vylit has positioned itself as the “HBO of social media,” a space between traditional social media and adult subscription platforms, where creators can be expressive, marketable and in control. The Creator Advisory Board takes that further. Rather than building the platform for creators and handing it over, Vylit is building it with them, giving them direct ownership and a say in its direction.

“The users driving value should have a say in the business,” said Ami Gan, Co-Founder and CEO of Vylit. “Creators understand culture and digital monetization better than anyone. At Vylit, that expertise earns them a real seat at the table.”

“We didn’t want to build another platform where creators show up after the fact,” added Kailey Magder, Co-Founder and COO of Vylit. “We want them involved from day one, shaping the product, the community and the direction of the business.”

Vylit truly puts creators in charge, giving them real ownership and a direct say in how the platform evolves. The Creator Advisory Board is just the start.

To learn more, visit https://vylitworld.com/

To access the media kit, click here.

ABOUT VYLIT
Vylit is an 18+ creator-first social platform redefining how adults share, discover and monetize content. Co-founded by Amrapali (Ami) Gan and Kailey Magder, Vylit was created to fill the gap between traditional social media and creator platforms, offering a premium digital experience for expression. Built as “the HBO of social media,” the platform allows topless content while prohibiting explicit material, giving creators greater freedom. Vylit combines social connectivity with built-in monetization, interest-based discovery through its Vybe Matching Engine, and in-house AI Image Generation and Chat tools designed for its users. Learn more at www.vylitworld.com.

FOR PRESS INQUIRIES
pr@vylitworld.com

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SOURCE Vylit World

Technology

CNBC Names PayJoy one of the World’s Top FinTech Companies of 2026

Published

49 minutes ago

July 23, 2026

Recognition highlights PayJoy’s leadership in emerging market consumer finance

SAN FRANCISCO, July 23, 2026 /PRNewswire/ — CNBC and Statista have named PayJoy to the “World’s Top Fintech Companies 2026,” which honors companies providing digital funding and bank-independent lending solutions for individuals and businesses. PayJoy is a leading financial services provider for underserved consumers across emerging markets.

Now in its fourth edition, the ranking identifies 500 leading companies across eight fintech market segments worldwide, including Payments, Neobanking, Wealth Technology, Digital Assets, Enterprise Fintech, Insurtech, Regtech, and Alternative Financing. Companies were evaluated using an aggregated scoring model built on both general and segment-specific KPIs, drawing on desk research from publicly available sources alongside company self-reports submitted through an open application process.

PayJoy’s inclusion reflects its work bringing credit access to the emerging middle class in Mexico, Colombia, Brazil, Panama, Peru, Ecuador, South Africa, the Philippines, and Indonesia, nine countries where traditional financial infrastructure has long excluded first-time borrowers.

“This recognition from CNBC and Statista is a meaningful validation of the work our team does every day,” said Doug Ricket, PayJoy CEO and Co-Founder. “Millions of people across the markets we serve are building credit for the first time through PayJoy. Being named among the world’s top fintech companies reflects the scale and impact of that work.”

For more information on the full ranking, visit https://www.cnbc.com/worlds-top-fintech-companies-2026/

About PayJoy
PayJoy expands credit access across emerging markets through point-of-sale financing and card offerings. Its proprietary secured-credit technology enables first-time borrowers to responsibly build financial stability and participate fully in the modern economy. Through its cutting-edge machine learning, data science, and anti-fraud AI, PayJoy has financed over $3.5 billion of loans to more than 20 million people and employs over 1,000 people worldwide. For more information, visit https://www.payjoy.com/

Contact
payjoy@thekeypr.com

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SOURCE PayJoy

Technology

Youngstown Innovation Hub Breaks Ground at YBI’s 107 Building

Published

49 minutes ago

July 23, 2026

YOUNGSTOWN, Ohio, July 23, 2026 /PRNewswire/ — As the United States works to strengthen its aerospace and defense manufacturing base, the Youngstown Innovation Hub for Aerospace & Defense broke ground today on YBI‘s 107 Building in downtown Youngstown, positioning the region as a national proving ground for advanced and additive manufacturing. The Hub is managed by the National Center for Defense Manufacturing and Machining (NCDMM).

Youngstown Innovation Hub for Aerospace & Defense breaks ground at YBI’s 107 Building.

The Hub is one of four Innovation Hubs established across Ohio as part of a statewide initiative to strengthen innovation-driven economic growth. Once complete, it is projected to generate approximately $161.6 million in economic impact, create 450 new jobs, and produce 185 new STEM credential opportunities and 40 internship opportunities by 2029.

The groundbreaking comes as Ohio was recently ranked the No. 1 state for business in America by CNBC’s 2026 America’s Top States for Business rankings, up from No. 5 in 2025.

Ohio Lt. Governor Jim Tressel attended and delivered remarks at the ceremony.

“Today is about more than renovating a building. It’s about building opportunity for Ohioans,” said Lt. Governor Tressel. “The Mahoning Valley has always been defined by the people who make things, solve problems, and never stop working toward a better future. This Innovation Hub builds on that proud tradition while preparing the next generation for in-demand careers in manufacturing.”

Hub and YBI leadership also spoke at the ceremony.

“Today’s groundbreaking of the Youngstown Innovation Hub represents much more than the start of a building renovation. It reflects what can happen when state, regional, industry, academic, and community partners come together around a shared vision for the future of manufacturing, aerospace and defense innovation,” said Megan Malara, Ph.D., director of the Youngstown Innovation Hub.

The renovation is made possible in part by a $750,000 state capital investment. Ohio State Sen. Al Cutrona and state Rep. Lauren McNally were credited with helping advance the funding request through the legislative process. YBI also recognized the broader Lake to River legislative delegation, including state Reps. Nick Santucci, Tex Fischer, Monica Robb Blasdel, Dave Thomas, and Sarah Fowler Arthur, for their support, as well as U.S. Sens. Jon Husted and Bernie Moreno for their support of the project in the U.S. Senate.

Speakers at the ceremony included Ohio Lt. Gov. Jim Tressel; Lydia Mihalik, director of the Ohio Department of Development; Mary Mertz, director of the Ohio Department of Natural Resources; Julius Oliver, 1st Ward Councilman for the City of Youngstown; State Sen. Al Cutrona; State Rep. Nick Santucci; State Rep. Lauren McNally; and Megan Malara, Ph.D., director of the Youngstown Innovation Hub. Barb Ewing, CEO of YBI, served as master of ceremonies.

The City of Youngstown, which committed $1.35 million in local matching funds to the project, was represented at the ceremony. John Wilczynski, executive director of America Makes, attended, and Barb Ewing recognized Kimberly Gibson and Alexander Steeb of America Makes for their roles in advancing the project.

Upon completion, the five-story, 130,000-square-foot concrete-framed building will offer flexible space for offices, workspaces, and display areas, along with robust power capacity to support multiple high-demand tenants. The building’s security features, including limited access points and naturally separated manufacturing bays, are designed to meet U.S. Department of War contracting criteria, positioning tenants to compete directly for federal defense work.

“It’s great to finally be transitioning from talking about this project to actually working on it. We appreciate all the support we’ve had from our political leaders and the community. YBI is proud to be a part of the project team that’s changing the trajectory of the Mahoning Valley,” said Barb Ewing, CEO of YBI.

Companies looking to expand, relocate, or enter the aerospace and defense manufacturing sector are encouraged to visit the Youngstown Innovation Hub website at youngstownhub.us.

About the Youngstown Innovation Hub for Aerospace & Defense

Managed by the National Center for Defense Manufacturing and Machining (NCDMM), the Youngstown Innovation Hub is a national proving ground for advanced and additive manufacturing, strengthening U.S. aerospace and defense supply chains and workforce development. Learn more at youngstownhub.us.

About YBI

YBI is a globally recognized economic development nonprofit, advancing innovation and growth across Ohio and beyond. Through a flexible suite of high-quality entrepreneurial services and resources, YBI supports startups, small businesses, and manufacturers at every stage of development. For more information, visit ybi.org.

Media Contact:
Jessica Sprowl, Marketing and Communications Director, YBI
jsprowl@ybi.org

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SOURCE YBI