Endomines Finland Oyj’s subsidiary, Endomines Oy, has entered into a cooperation agreement with mining contractor Veljekset Toivanen Oy, covering the underground mining operations in the Hosko production site.

Endomines opened the Hosko open pit mine in February 2024. Hosko is located on the Karelian Gold Line, about 20 km north of Pampalo. The company is now expanding its mining operations to include an underground mine in addition to the open pit mine. Veljekset Toivanen Oy has been selected as a partner for the underground mining contracts.

“Veljekset Toivanen Oy is a well-known and reliable mining contractor with extensive experience and expertise in the field,” Ilkka Räty, Endomines’ Chief Operating Officer, says. “The company’s strong competence and commitment to responsible operations make it an excellent partner for Endomines.”

Endomines has cooperated with Veljekset Toivanen in the past. The company has been responsible for open-pit mining in the Pampalo and Hosko production sites.

Räty added: “It is great that our cooperation with Veljekset Toivanen continues. Veljekset Toivanen’s operations emphasise occupational safety, development activities and professionalism, which gives us confidence to continue our collaboration.”

Endomines strongly believes in the potential of the Hosko area, and through the underground mine, the company will be able to better use the area’s gold resources. The company’s medium-term goal is to increase gold production to 20,000 oz by the end of the current year. The Hosko underground mine will help Endomines achieve this goal.

Ari Keskitalo, Head of Mining Operations at Veljekset Toivanen Oy, said: “Veljekset Toivanen Oy is proud to be part of this project. Our cooperation with Endomines is proof of the commitment of both companies to responsible and efficient mining.”