Press releases

28. Sept 2018 09:45

SOTKAMO SILVER COMMENCE OPEN-PIT MINING AND UNDERGROUND WORKS WITH TAPOJÄRVI OY

Sotkamo Silver has signed an agreement with Tapojärvi Oy for loading, hauling and mining and ore transport to the enrichment plant in connection with the mining operations in Silver Mine. The duration of the contract is 4.5 years and has a value of at least EUR 60 million. The works begin in October 2019.

Tapojärvi Oy is a company specialising in the mining services and industrial processes, materials handling and recycling. Approximately 700,000 tonnes of Tapojärvi’s products a year are a circular use of industrial by-products. Tapojärvi is also a mining subcontractor in several mines as an integral part of the production. Tapojärvi employs more than 400 people, and subcontractors employ some 150 people.

"I am glad that experienced company which has specialised in the mining production and circulation economy is now of partner with the significant contact. Tapojärvi has the wide and extensive experience in the mining industry and mining contract work. The high technological expertise of Tapojärvi give a solid base to our co-operation”, says Timo Lindborg, CEO of Sotkamo Silver AB.

"It's great to get involved in developing the Kainuu mining industry together with Sotkamo Silver. We worked together already in the project phase and now we continue with the versatile supply chain model. It's striking to be part of the opening of the new mine from the beginning of the operation", continues Tapojärvi Oy's Operational Director Martti Kaikkonen.
  

Stockholm, September 28th2018
Timo Lindborg, CEO
 

Contact person
Timo Lindborg, CEO of Sotkamo Silver AB, tel. +358 40 508 3507

This information is information that Sotkamo Silver AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, on 128thSeptember 2018, at 8.45 CET.

The official Stock Exchange Releases are given in Swedish and there may be differences in the translated versions.

About Sotkamo Silver AB
Sotkamo Silver AB´s business concept is to exploit mineral deposits in the Nordic countries with positive social and environmental benefits. Sotkamo Silver owns mineral deposits, which contain silver and gold in Finland as well as zinc and gold in Norway. The Company’s main development project is the Silver Mine project in the municipality of Sotkamo.

Sotkamo Silver applies SveMin’s & FinnMin’s respective rules of reporting for public mining & exploration companies. Sotkamo Silver has chosen to report mineral resources and ore reserves according to the internationally accepted JORC or NI 43-101 code. The company applies International Financial Reporting Standards (IFRS) as approved by the European Union.

Legal Entity Identifier (LEI): 213800R2TQW1OZGYDX93
The ticker symbol is SOSI in NGM Equity in Stockholm and SOSI1 in NASDAQ Helsinki.
ISIN-code for Sotkamo Silver shares is SE0001057910.

Read more about Sotkamo Silver on www.silver.fi

The Company's press releases and financial reports are distributed via Cision Sverige and are available on www.silver.fi