History

Steinsvik Olivine AS was founded in 1995 to extract olivine from the Vassbakkedalen deposit in Volda.

After several years of exploration and planning, the company began production in 2004, originally as an underground mine. The first shipment was made the following year.

Due to high safety costs related to bolting in the tunnels, operations were converted to open-pit mining in 2006.

After bankruptcy in 2009, the business was reestablished under new ownership in 2010. In the years that followed, emphasis was placed on mapping, test production, and environmental measures to ensure more robust and sustainable operations.

Today, the company operates as a modern mining business with a focus on quality, safety, and developing new applications for olivine.

Current operations are based on open-pit mining in Raudehamaren, with extraction from 100 to 275 meters above sea level. 

The raw material is crushed at the site and then transported 3.2 km to Treneset.

The plant features multiple crushing and screening stages, producing olivine sand fractions typically ranging from 0–4 mm to 0–8 mm.

Storage capacity is approx. 40,000 tons, while annual production capacity is around 180,000 tons, with the potential for expansion.

The shipping facility can load vessels with a draft of up to 10.5 meters, with a loading capacity of approx. 1,200 -1500 tons per hour – enabling efficient delivery of large volumes to customers across Europe and beyond.

The company has a sales office in Germany (Steinsvik Olivine Sales GmbH) and a subcontractor agreement with Fromberger GmbH in Duisburg, where olivine is dried, sorted, and packaged for distribution.

Development 

As part of its future strategy, Steinsvik Olivine AS plans to expand its product portfolio and conduct research together with Norwegian and international partners on new applications within environmental technology.

The goal is to offer such products directly from the Steinsvik plant within the coming years, as part of the company’s ongoing adaptation to market needs and contribution to sustainable solutions.