A significant gold deposit has been discovered in northern Finland. The Canadian company Rupert Resources announced the find. The deposit is located in Ikkari, within the municipality of Sodankylä.
The gold deposit is estimated to contain 3.5 million ounces of gold. This equates to approximately 110 tons of the precious metal. The gold is distributed across more than 52 million tons of mineral.
The value of the gold is estimated at over 10.4 billion euros. The company plans to develop the mine over two decades. They anticipate beginning construction before the end of the decade, with production starting in 2030.
The exploration area covers more than 5,000 hectares. The direct exploitation will focus on 1,200 hectares. The deposit is hidden beneath a layer of glacial material, complicating extraction.
Rupert Resources expects the mine to attract international investors. The project is poised to become one of Finland's most important due to its potential impact on the local economy and the European gold market.
This article is based on our author's analysis of materials taken from the following resources: various Spanish news sources.