14.02.2013

Agnico-Eagle discovers more gold in northern Finland

Canadian mining company is planning to expand its area of operations by about 100 hectares.

The Canadian-based gold producer Agnico-Eagle has discovered more gold at its mine in Kittilä, located in the Lapland region of northern Finland. The company is opening a new open pit mine in the southern part of its existing mine, which will later also be mined from underground.

As a result of the discovery, Agnico-Eagle is planning to expand its area of operations by about 100 hectares. According to Agnico-Eagle, the Kittila mine is one of the largest known gold deposits in Europe, with reserves containing 5.2 million ounces. The mine currently employs about 380 people, with 60-80 new jobs expected in the new mine.

Agnico-Eagle’s 3,000-tonne-per-day operation is expected to produce on average about 150,000 ounces of gold annually. The life of the mine is estimated to continue until 2044 at current rates.

Sources: Lapin Kansa, Agnico Eagle