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Endomines plans to increase gold production in Finland, prepares to start operations in Hosko

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(Kitco News) - Gold producer Endomines said today it is preparing to start gold production in the Hosko area of Finland, located in the Karelian Gold Line, in early 2024.

Hosko is located about 10 kilometres North of the company's Pampalo production site and is the next identified deposit on the Karelian Gold Line where gold production will start.

The company said that preliminary investments in infrastructure in the area will start in August 2023, and the production is expected to start in the first quarter of 2024.

Gold ore from Hosko will be processed at the Pampalo production plant. The company expects Hosko to account for 10–30% of total production in 2024.

Endomines noted that its medium-term goal is to increase gold production to 20,000 ounces by 2024. To achieve this, underground production will also be developed further.

"The free capacity of the Pampalo processing plant allows us to expand production without significant investment in the plant. The Hosko deposit strongly supports our objective to shift to open pit mining as much as possible, in the coming years," the company said in a press release.

Endomines is a mining and exploration company with its primary focus on gold. Endomines is engaged in mining operations at the Pampalo mine in Ilomantsi, and in exploration activities along the Karelian Gold Line in Eastern Finland.

Endomines also owns rights to several gold deposits in Idaho and Montana, US, where Endomines aims to continue the development work through partnership agreements.

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