International news within the industry of mining and metal, Apr, 24 2019
Latest News

Dragon Mining: - We're not going to take the gold and run

Goldfield surveyor at Juomasuo area in Northern Finland. Photo: Courtesy: Dragon Mining
Goldfield surveyor at Juomasuo area in Northern Finland. Photo: Courtesy: Dragon Mining
Published by
Markku Björkman - 19 Jan 2019

The newspaper Iltalehti revealed on Christmas Day that Dragon Mining planned to empty the gold mine in the Finnish town of Valkeakoski on all gold before the Supreme Administrative Court had had time to decide on the local residents' complaint. The plans were based on a prospectus presented on the Hong Kong stock exchange.

The mining company Dragon Mining, which is active in Finland, has no plans to "take the gold and run," says the company's CEO.

The proposed mining tax raises concerns among foreign owners in the mining industry in Finland, writes the Helsinki newspaper HBL

The Australian mining company Dragon Mining denies the claim that the company would take advantage of the Finnish authorities' lengthy complaints process regarding unethical mining operations.

Dragon Mining's CEO Brett Smith claims that the accusation is not true.

- That statement is a distortion of what was said in the prospectus, says Smith.

Smith attended newly the Mining Industry RFF's press conference in Helsinki. At the meeting, representatives of the mining industry tried to correct general misunderstandings regarding the mining industry.

Iltalehti's revelation once again sparked a lively debate on the activities of foreign mining companies in Finland. Several politicians took a position on the issue and considered that Finland should introduce a mining tax. Currently, Finland has no mining tax. Instead, the mining industry pays compensation to the landowner.

Mining industry manager Pekka Suominen believes that the mining tax is on the way.

- I think it seems quite clear that every political party in our parliament has this as a goal in one way or another in the government negotiations, says Suominen, to HBL.

The mining industry nevertheless hopes that the parties will make a thorough assessment of the effects of the tax before making any decisions. There is a risk that Finland will lose valuable investments because of it.

- Our view is that the tax burden for mines as a whole is higher than in Sweden, which means that a tax increase here would support Swedish mines and Swedish employment, says Suomalainen.

- When you look at the mining industry in general, there are a few people who know it in depth in this country.

- The work of the MPs is demanding and they have a lot on their tables. In addition, this is a rather complicated subject, says Suomalainen to Hufvudstadsbladet.

The property lies in the famous Cobalt province and is approximately 47 km south of the town of Cobalt. The picture shows an old mine in the town of Cobalt. In the early 1900s, the area was heavily mined for silver; the silver ore also contained cobalt. By 1910, the community was the fourth highest producer of silver in the world. Mining declined significantly by the 1930s, together with the local population. In late 2017 one publication referred to Cobalt as a ghost town, but the high demand for cobalt, used in making batteries for mobile devices and electric vehicles, is leading to great interest in the area among mining companies. Photo: Wikipedia, credit: P199
The property lies in the famous Cobalt province and is approximately 47 km south of the town of Cobalt. The picture shows an old mine in the town of Cobalt. In the early 1900s, the area was heavily mined for silver; the silver ore also contained cobalt. By 1910, the community was the fourth highest producer of silver in the world. Mining declined significantly by the 1930s, together with the local population. In late 2017 one publication referred to Cobalt as a ghost town, but the high demand for cobalt, used in making batteries for mobile devices and electric vehicles, is leading to great interest in the area among mining companies. Photo: Wikipedia, credit: P199

Quantum Cobalt Completes First Pass Exploration Near Temagami, Ontario

Sotkamo Silver consists of the parent company, Sotkamo Silver AB, with one wholly-owned subsidiary in Finland: Sotkamo Silver Oy. Sotkamo Silver develops silver, gold and zinc deposits in the Nordic region. The Company has completed the Definitive Feasibility Study for the Silver Mine project and is working on project financing issues. Photo: Sotkamo Silver
Sotkamo Silver consists of the parent company, Sotkamo Silver AB, with one wholly-owned subsidiary in Finland: Sotkamo Silver Oy. Sotkamo Silver develops silver, gold and zinc deposits in the Nordic region. The Company has completed the Definitive Feasibility Study for the Silver Mine project and is working on project financing issues. Photo: Sotkamo Silver

New silver mine opened in Finland

"150 trucks pro year"

The production of the first silver mine in Finland has started in Sotkamo. the mine of the Sotkamo...

The joint initiative called HYBRIT of SSAB, LKAB and Vattenfall – here with their three representatives at the fair, from right, Martin Pei technology manager at SSAB, Jan Moström CEO of LKAB and Martin Lindqvist, CEO of SSAB. HYBRIT is now on exhibit as an exciting sustainability collaboration at one of the worlds largest industrial trade fairs in Hanover. The CEOs of the three companies are in Germany to show the rest of Europe that it is possible to produce fossil free steel. Photo: SSAB
The joint initiative called HYBRIT of SSAB, LKAB and Vattenfall – here with their three representatives at the fair, from right, Martin Pei technology manager at SSAB, Jan Moström CEO of LKAB and Martin Lindqvist, CEO of SSAB. HYBRIT is now on exhibit as an exciting sustainability collaboration at one of the worlds largest industrial trade fairs in Hanover. The CEOs of the three companies are in Germany to show the rest of Europe that it is possible to produce fossil free steel. Photo: SSAB

The Swedish steel industry exposes at the Hanover Fair

"revolutionary steel industry changeover"

- The Swedish initiative for fossil-free steel production, HYBRIT, participates this week at the...