SOTKAMO SILVER RECEIVES ENVIRONMENTAL PERMIT FOR SILVER MINE
Sotkamo Silver has on the 16th April 2013 granted environmental permit by the Finnish Regional State Administrative Agency (No 33/2013/1; Dnro PSAVI/91/04.08/2011) for the company's planned Silver Mine in Sotkamo municipality in central Finland. The positive decision means that Sotkamo Silver meets the demands of today's Finnish environmental law imposes on mining operations.
Permit requirements given for the activity are based on Finnish legislation and EU directives and are set to ensure company’s environmentally friendly operation. The terms of the environmental permit is related to production capacity and on emissions. Requirements fit company’s Environmental Policy and do not cause any surprises or unexpected costs in the planning or construction of the mine. The environment permit describes used concentrating process, production capacity and environmental aspects of the Silver Mine. It is the largest silver deposit ever discovered in Finland. Sotkamo Silver plans to produce about 30 000 kg or 1 000 000 oz. silver per year.
The permit includes the right to initiate construction work and operations independently of any appeals of the decision. Appeals shall be done latest on 16th May 2013.
"I am very satisfied with the condition the Regional State Administrative Agency has now given to us. The environmental permit is essentially the same, what we have expected. Planning and preparation of the mining project can proceed according to the plan. Our plans are to start mining in the Silver Mine in the end of 2014 with an annual production of 350 000 ton ore that we plan to increase in the future. According the plan starts mining simultaneously from an open pit and underground. We will intensify the negotiations of the project financing and construction of infrastructure in the mine. " says Timo Lindborg, CEO of Sotkamo Silver AB
Stockholm, 16th April 2013.
Timo Lindborg, CEO
The information provided in this press release is such that the company is required to disclose pursuant to the Swedish Securities Markets Act and/or the Financial Instruments Trading Act. This press release contains forward-looking statements, forecasts and estimates. Indications of, and guidance on future earnings and financial position and performance are also forward-looking statements. The statements and estimations are subject to risk factors associated with the mining industry. These forward-looking statements, opinions and estimates are not guarantees of future performance.
About Sotkamo Silver AB:
Sotkamo Silver AB´s business concept is to exploit mineral deposits in the Nordic countries with regards to human society and environment. Sotkamo Silver owns, through its subsidiary mineral deposits, which contains silver and gold in Finland. The Company’s main development project is the Taivaljärvi Silver Mine.
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.
The ticker symbol is SOSI in NGM and SOSI1 in NASDAQ OMX Helsinki.
ISIN-code for Sotkamo Silver shares is SE0001057910 and for warrants SE0004635290.
Read more about Sotkamo Silver on www.sotkamosilver.com or www.silver.fi
For further information: Timo Lindborg, CEO, tel. +358 40 508 3 507
The official Stock Exchange Release is given in Swedish and there may be differences in the translated versions.