Jukka Nieminen, managing director

Nickel producer goes for gold

Discovery Reports

Supported by:Discovery Reports

Finland's mining sector is full of golden opportunities - and Vancouver-based Belvedere Mining recognises the country's potential. Operating exclusively in Finland, the company has brought its Canadian expertise to its mining and exploration activities in the country for more than 10 years.

Belvedere's Hitura Nickel Mine, which has been operational for more than 40 years, has produced more than 16 million tonnes of nickel ore. Following Belvedere's purchase of Hitura in 2010, the mine yielded 45,000 tonnes of nickel ore in one month, two months ahead of schedule.

Belvedere exports all of Hitura Nickel Mine's production to the mainland, whose increased construction requirements account for 40 per cent of the global nickel demand. Even as Belvedere supplies the world's fourth-largest nickel company, Jinchuan Group, it remains open to other customers for its nickel.

Belvedere will continue to expand its operations in and around Hitura Nickel Mine to diversify its portfolio. "The Hitura mine area has a lot of potential for new discoveries," says managing director Jukka Nieminen. "There's a lot of work to be done especially in the gold sector which is probably the most underexplored in Finland."

Within trucking distance of Hitura Nickel Mine, Belvedere's gold deposit in Kopsa will be using Hitura's refining facilities to be more cost-efficient. One of Belvedere's six gold properties, the gold deposit in Kopsa will be operational within the next two years.

Apart from customers for its future gold production, Belvedere seeks investors for further exploration activities. Potential investors may find assurance in Finland's mining-friendly regulations, stable economic environment and abundance of maiden resources.

"There are a lot more opportunities in mining overall, especially in exploration," Nieminen says. "With access to trained personnel, Finland is a good place to operate. Just come over and take a look."