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NORD RESOURCES CORPORATION ANNOUNCES COMPLETION OF SALE OF 20 PERCENT INTEREST IN NORD KAOLIN

 DAYTON, Ohio, March 12 /PRNewswire/ -- Nord Resources Corporation (NYSE: NRD) is pleased to announce the completion of the sale of an interest in Nord Kaolin Company to an American subsidiary of Kemira Oy of Helsinki, Finland. Under the terms of the agreement, Kemira acquired a 20 percent interest in Nord Kaolin for a $10 million investment of cash and materials.
 Kemira also has the option to purchase 31 percent of Nord's interest in Nord Kaolin Company for a period of four years at a minimum price of $23 million increasing to $36 million over the term of the option.
 Kemira is a substantial international chemical company and one of the world's largest pigment producers. Nord Kaolin produces a line of kaolin-based pigments used as opacifying coatings and fillers in the papermaking industry. This line, known as Norplex(R), has continued to gain acceptance in the paper industry. The volume of Norplex(R) products sold in 1992 increased to 12,300 tons from 5,400 tons in 1991. Indications are that sales of Norplex(R) in the first quarter of 1993 will exceed the highest quarterly sales level achieved in 1992.
 Dr. Edgar R. Cruft, chairman, president and CEO of Nord Resources stated:
 "Nord Kaolin's market presence will be greatly enhanced by our relationship with Kemira which is one of the major factors in the chemical and titanium dioxide related product industries."
 Nord Resources Corporation is the world's largest producer of natural rutile (a premium titanium dioxide mineral) and a significant producer of kaolin and holds a 42 percent interest in Nord Pacific Limited (NASDAQ: NORPF), a company engaged in the exploration for and development of precious, strategic and base metals, particularly copper.
 -0- 3/12/93
 /CONTACT: Terence H. Lang, senior vice president-finance, or Susan Shahan, director of shareholder relations, both of Nord Resources Corporation, 513-433-6307/
 (NRD)


CO: Nord Resources Corporation ST: Ohio IN: MNG SU:

BM -- CL003 -- 5385 03/12/93 08:10 EST
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Publication:PR Newswire
Date:Mar 12, 1993
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