Pampalo gold mine to open in early 2011
Endomines Pampalo gold mine is expected to produce 900-1000 kilograms of gold every yearThe opening of Pampalo gold mine has been confirmed. The mining company Endomines has announced its intentions, which are to begin commercial operations at the gold mine in the beginning of 2011.
Pampalo will have an underground mine and processing plant, as well as office and maintenance premises. The Swedish company will invest about 28 million Euros in the entire project. The mine is expected to produce 900-1000 kilograms of gold every year, reports YLE Northern Karelia.
The direct employing effect of Pampalo gold mine is expected to about 70 new jobs. On top of that subcontracts will generate a significant amount of additional jobs.
The Finnish Ministry of Employment and the Economy decided last February that it would grant Endomines a 2,5 million Euro business development aid for Pampalo gold mine project.
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