Kittila mines one of the largest known gold deposits in Europe, with reserves* containing almost 5.2 million ounces (35 million tonnes at 4.7 g/t).
The mine is located in the Lapland region of northern Finland, approximately 900 kilometres north of Helsinki and 150 kilometres north of the Arctic Circle.
Open pit mining began in 2008 from the Suuri pit and will move on to the Roura pit. This mining will last for about five years. Underground mining to extract the deeper ore began in 2010.
Kittila poured its first gold on January 14, 2009, and achieved commercial production four months later. The 3,000-tonne-per-day operation is expected to pour about 150,000 ounces of gold in 2012 and average 173,000 ounces of gold a year from 2013 through 2015.
* Source
Kittila December 31, 2011 Reserves and Resources
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The continued growth of the orebody has led to a feasibility study that is evaluating the potential for an expansion of at least 50% in throughput (to at least 4,500 tonnes per day). The study is expected to be completed in the third quarter of 2011; a third quarter reserve and resource update is expected as well. Capital requirements are expected to be $250 to $300 million, with production at the higher rate commencing as early as the second half of 2014.
1986 – Gold is discovered in the area, in a quartz vein exposed by a road cut, and is explored by the Geological Survey of Finland until 1991.
1998 – A Swedish exploration company, Riddarhyttan Resources AB, acquires the Suurikuusikko gold deposit from the Finnish government and focuses its efforts in this area.
2004 – Agnico-Eagle acquires a 14% ownership interest in Riddarhyttan and directs an extensive drilling program at the property.
2005 – Agnico-Eagle makes a successful bid for all remaining shares of Riddarhyttan.
2006 – Agnico-Eagle completes a final feasibility study, and begins construction of the mine, which is named after the nearby community of Kittilä.
2009 – First gold is poured on January 14. The processing plant achieves commercial production in May. Kittila celebrates its Grand Opening in June.
2010 – Underground commerical production begins on October 1.