Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
The Company’s subsidiary Endomines Oy has today received an environmental permit decision from the Eastern Finland Regional State Administrative Agency (“AVI”) relating to the Rämepuro satellite mine mining.
The Company has preliminarily assessed the received permit and has not identified any issues that will prevent the company from starting mining the Rämepuro deposit and further processing at Pampalo central plant as scheduled summer 2014. The permit grants the Company the right to commence operations immediately regardless of potential appeal processes.
“The obtained permit and quick handling time is a further testimony that the Company operates responsibly along Karelian Gold Line. We will commence preparations for full scale production at Rämepuro immediately. The Rämepuro ore will be an important supplement for the Pampalo central processing plant ore feed during the coming years”, comments Markus Ekberg, CEO of Endomines.
Endomines submitted the environmental permit application for Rämepuro operations in the summer of 2013.
