A Finnish gold project has received approval from a supervising authority as a result of the countries ever increasing mining investment attractive index.
Nordic Gold announced this week that the Finnish supervisory authority ELY has granted approval for the recommencement of mining and processing operations at the Laiva Gold Mine.
Mining activities started at Laiva several weeks ago in mid-August, to establish access and clear working areas. The company has been conducting three blasts a week and is stockpiling mineralised material in readiness for plant start up. At this time there are around 62,000 tonnes of mineralised material stockpiled and ready for processing. Roughly 15,000 tonnes of mineralised material has been run through the primary crusher as part of recommissioning.
Following receipt of approval from ELY, the mill and plant can now begin operating. Michael Hepworth, President and CEO said, “This is a significant advance for the company. We are now able to operate the plant and prepare for processing. The plant is being restarted in stages with the grinding circuit now in its final stages of testing. The CIL circuits are ready to operate and will be filled as mineralised material passes through the comminution circuit. We plan to pour our first gold on 27th November.”
Located in Raahe, Finland, The Laiva Projectis one of the largest gold resources in the region.
Exploration in the Laiva area started in 2005. Previously the area was worked by both Endomines Oy and Outokumpu. The operation includes two pits and a recently constructed 6,000 tpd, state-of-the-art process plant designed by Metso and constructed by Outotec. Historic expenditure on the property is estimated at €220 million. The mill and leaching plant was completed completed in 2011. Mining at the property was initiated in Q3 2011 and the first doré bar was cast in December that year.