International news within the industry of mining and metal, Jun, 25 2018
Latest News

Agnico Eagle Finland expands in Kittilä its mining

Mine haul truck loading. Photo: Agnico Eagle Finland Oy
Mine haul truck loading. Photo: Agnico Eagle Finland Oy
Published by
Markku Björkman - 07 Mar 2018

Recently, the company Agnico Eagle Finland made 160 million euro investment in Kittilä's gold production. The mining well extending to more than a kilometer depth is built in the mine.

- The mining shaft allows the deeper parts of gold deposits to be utilized in an economically sensible way, and it also improves our energy efficiency and reduces the consumption of fossil fuels. The efficiency of the shaft coupled with the higher production volume improves the competitiveness of the Kittilä mine, says Managing Director Jani Lösönen in Agnico Eaglen's press release.

The processing capacity of the mining concentrate is also increased from 1.6 million tonnes to two million tonnes. The extension will begin during the spring.

According to the company, the expansion phase requires about 900 man-years. Thereafter, new more permanent jobs will be a few tens of more.

The known ore reserves of the Kittilä gold mine are about 27 million tonnes. One tonne of ore is about 4.64 grams of gold. The company estimates that the mine will run until 2034.

Source: Agnico Eagle Finland Oy