All mining contracts in place at the Laiva gold mine

Nordic Mines has signed contracts with Tallqvist Oy, Atlas Copco, Forcit Oy and Rotator/Hitachi for the supply of equipment and services to the gold mine in Laiva, Finland. All the contracts required to start gold production this summer are thus in place. The contract with Atlas Copco is for the supply of drilling equipment, comprising three type ROC L7CR drilling rigs. The contract with Rotator/Hitachi relates to three 115 tonne excavators of the model EX1200-6BE; the contract also covers machine maintenance with guaranteed availability. Both Atlas Copco and Hitachi are globally leading suppliers within their respective product segments. Rotator is Hitachi's representative for contract machinery in Finland and has supplied the Finnish market with contract machinery solutions since its establishment in 1954. The company's 135 employees are primarily employed within maintenance and support. The contract with Forcit Oy relates to the supply of explosives, charging of drilled holes and other services connected with blasting in the mine. Oy Forcit Ab, which was established in 1893, is a Finnish company and a leading producer of explosives. The group has 290 employees and its turnover in 2009 was MEUR 42. Contracts have also been signed with Tallqvist Oy, which will be responsible for all transportation of ore and waste at the Laiva mine as well as for maintenance of roads and waste piles. Tallqvist was established in 1965 and is one of the leading contractors in Finland, with annual turnover in the range MEUR 15-22.5. The company has more than 70 machines at its disposal, in addition to which the company will be procuring an additional four CAT 777 mining trucks for the operations in Laiva. "This means that all the contracts with suppliers relating to mining and transport in the Laiva mine have now been put in place, and all within budget. I am very pleased that we have signed contracts with leading suppliers in each product segment. It provides us with a high degree of security both during the establishment phase and in future production. As announced previously, we will begin mining ore in June this year and will start producing gold in the concentration plant in August," says Michael Nilsson, CEO of Nordic Mines. For further information please contact: Michael Nilsson, CEO Nordic Mines, +46 18 84 34 500, Nordic Mines Press release 7 mars PDF: This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Nordic Mines AB via Thomson Reuters ONE [HUG#1495100]