Endomines Finland Plc - Press Release - 16.6.2026 at 13:15 EEST
Endomines receives EU and state funding to advance critical minerals project
Endomines Oy has been granted a business development subsidy of up to EUR 1.51 million by Economic Development Centre of Eastern Finland for the project "Endomines - Producer of Critical Minerals". The funding consists of approximately EUR 0.96 million allocated to development measures and approximately EUR 0.55 million to investments.
The project receives funding from the EU regional and structural policy programme "Renewing and Competent Finland 2021-2027" and is aimed at strengthening research and innovation capabilities as well as supporting the adoption of advanced technologies.
The project will assess the economic and operational conditions for tungsten and molybdenum mining. In addition, it includes related analysis, testing and planning activities, such as analysis of tungsten and molybdenum drill core samples, till sampling, beneficiation tests, environmental characterization of mining waste, mineralogical evaluations and process design.
According to the Economic Development Centre, the project is expected to have a significant impact on Endomines' long-term competitiveness and the development of the company's operations. The project will be carried out in Ilomantsi between June 2025 and April 2028.
"This funding is an important step in advancing Endomines' strategy. Critical minerals such as tungsten are essential for European self-sufficiency, and molybdenum is an important industrial raw material. The project strengthens our ability to assess and develop the responsible production of these minerals in Finland," says Kari Vyhtinen, CEO of Endomines.
Further information:
Kari Vyhtinen
CEO
Endomines Finland Plc
kari.vyhtinen@endomines.com
+358 40 585 0050
Endomines Finland Plc is a Finnish forerunner in sustainable mining. Our mining operations in Pampalo, Ilomantsi region, focus on gold mining and processing, as well as exploration in the Karelian Gold Line, in Eastern Finland. We produce gold for the jewellery and electronics industries and create value by transforming natural resources into wealth, an investment that withstands the volatility of global politics. Our vision is to develop the Karelian Gold Line into one of the world's most significant and sustainable gold-producing regions. Endomines is listed on the main list of OMX Helsinki (PAMPALO). www.endomines.com.
The Karelian Gold Line is 40 kilometers long, a gold prospective portion of the Ilomantsi greenstone belt located in Eastern Finland approximately 500 kilometers northeast of Helsinki. The area hosts several gold deposits, the largest known being Pampalo. Endomines controls extensively exploration rights across the Karelian Gold Line.
