Gold exploration activity in Finnish Lapland is intensifying as companies seek to develop new mineral resources in northern Europe. One of the most closely watched discoveries in recent years is the Ikkari gold deposit, located roughly 45 kilometres from Sodankylä in northern Finland.
The international engineering and consulting firm Ausenco has now been awarded the contract to lead the final feasibility study for the Ikkari project. The assignment comes from Rupert Exploration Finland Oy and marks a new stage in the development of the deposit.
The Ikkari discovery was made in 2020 and has advanced rapidly through exploration and technical evaluation. In early 2025, a pre-feasibility study assessed the project’s technical and economic conditions. With the feasibility study now underway, the project is entering a decisive phase that typically precedes a final investment decision on whether to build a mine.
Planned mine with a 20-year operating life
Current development plans envisage a mine producing about 3.5 million tonnes of ore annually with an estimated operational life of around 20 years.
According to the project strategy, mining would begin as an open-pit operation during the first decade of production. After roughly ten years, operations are expected to transition underground using the long-hole open-stope mining method for the remainder of the mine’s life.
The feasibility study will be coordinated from Ausenco’s office in Perth, Australia. Specialists from the company’s teams in Australia and Canada will also participate in the work.
Ausenco has extensive experience in designing and engineering gold mines in various parts of the world, including projects located in remote regions and harsh climates.
Important step toward investment decision
Rupert Exploration’s Chief Executive Officer, Graham Crew, described the contract as a significant step forward for the project.
– The appointment of Ausenco represents an important milestone in advancing the project toward development. As a global engineering and project delivery leader, Ausenco has proven experience designing and executing gold processing facilities comparable in scale to Ikkari, Graham Crew said in a company statement.
He added that close cooperation between Rupert’s internal project team, international specialists and local partners would help ensure that the study meets the project’s strategic objectives.
The feasibility study will include value engineering, planning of project implementation and detailed design of the processing plant and supporting mine infrastructure.
Costs and technical design under evaluation
The study will be prepared according to the AACE Class 3 standard. This means capital and operating cost estimates will have an accuracy range of roughly ±15 per cent.
Ausenco will also serve as the Qualified Person responsible for the technical report prepared under Canada’s NI 43-101 reporting standard, a widely used framework for disclosing mineral resources and reserves.
Reuben Joseph, President for Ausenco’s Asia-Pacific and Africa operations, said the project offers an opportunity to apply the company’s experience in gold recovery and energy-efficient mine design.
– We are pleased to partner with Rupert Resources on the Ikkari project. Our experience in gold project studies and energy-efficient solutions places us in a strong position to deliver a robust study that supports operational, environmental and community objectives, Reuben Joseph said.
The company also stated that cooperation with regional stakeholders and the use of local expertise will form part of the project’s development framework.
Lapland attracts growing mining interest
Northern Finland has seen increasing exploration activity in recent years as international mining companies search for new deposits of gold and other critical minerals.
Lapland already hosts several active mining operations and a growing exploration sector. The Ikkari discovery is widely regarded as one of the most significant recent gold discoveries in the region.
If the project proceeds to construction, it could become one of the larger mining investments in northern Finland in the coming years.
Source: Ausenco / Rupert Exploration Finland Oy
Fact check:
Finland is one of Europe’s leading mining jurisdictions for metals such as gold, nickel and copper. The sector has expanded significantly since the early 2000s, supported by stable mining legislation and strong geological potential in Lapland.
