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Friday, 19th December 2008 (1620 views)

Lappland Goldminers has announced that production has commenced at its Pahtavaara gold mine in Finnish Lapland.

The company claimed that, with continuous production, Pahtavaara gold mine is estimated to produce about 30,000 ounces (900kg) of gold on an annual basis.

Juha Karppinen, employees' representative at the Lappland Goldminers Oy Pahtavaara mine, said: "In the current situation with widespread lay-offs in the industry the employees of Pahtavaara cannot get any better Christmas present than continuity of jobs when normal production starts at the mine."

Listed on the First North and Norwegian OTC list, Lappland Goldminers acquired the Pahtavaara deposit and surrounding exploration permits, located in northern Finland about 150km north of Rovaniemi, in April 2008.

An exploration and producing mining company, Lappland Goldminers has reported that an area close to the Pahtavaara processing plant is of interest as it has good possibilities for new gold deposits.

The firm recently revealed that production is due to start at its Ersmarksberget gold mine, with approximately 30,000 ounces of gold expected from the site in 2009.

 

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