Sotkamo Silver files today the application for amendments to the current environmental permit. The application will be filed to the Regional State Administrative Agency for Northern Finland (AVI). The existing and planned mining operations are based on the current permit which is valid until further notice.
The amendments concern the increase of mining volume and the introduction of the material-intensive ore sorting process. These changes require the extension of the mining and process water treatment processes and the side rock area.
The total mining volume would increase from about 500 000 tonnes per year to close to 1 800 000 tonnes per year, which increase the maximum potential ore concentrating capacity to 600 000 tonnes per year. Most of the mining takes place as underground mining, and the open pit does not extend beyond the current environmental permit. Based on the Environment Impact Assessment (EIA) reports, these changes in operations will not substantially reduce the favourable state of environmental protection in the surroundings of the Silver Mine area.
"The increased production is carried out by optimising the current production process and by introducing the ore sorting technology. With the filed amendments of the permit and the measures we have proposed, we want to improve the material and energy efficiency of our project and reduce our carbon footprint to meet future challenges. At the same time, we will strengthen our operations to be able to increase the company's operating years in the Silver Mine area. The company has invested and will invest substantially in best available environmental technology. With these investments, we want to be prepared for increasing production capacity and take into account environmental considerations", says Timo Lindborg, CEO of Sotkamo Silver AB
Stockholm, December 21st, 2018
Timo Lindborg, CEO
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 Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, on December 21st, 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