Endomines continues development of the Southern Gold Line tungsten and molybdenum project without EU strategic project status
Endomines Finland Plc – investor news – 9.10.2026 at 12:30 EEST
Endomines continues development of the Southern Gold Line tungsten and molybdenum project without EU strategic project status
The European Union has published its decisions on strategic projects under the Critical Raw Materials Act (CRMA). Endomines Finland Plc’s Southern Gold Line tungsten, molybdenum and gold project was not selected as a Strategic Project in this application round.
The decision has no impact on the company’s plans to continue developing the project. Endomines will proceed with exploration activities, project development and evaluations in the Southern Gold Line area in accordance with its plans.
Endomines’ development project covers the southern part of the Karelian Gold Line, where the company aims to commence gold, tungsten and molybdenum production around 2030. Due to recent commodity price developments, the revenue potential of tungsten and molybdenum has increased significantly.
"Our project was not selected as a strategic project in this round, but this has no impact on our operations or plans. Europe’s need for critical minerals has not changed, and our objective remains to commence tungsten and molybdenum production in the Gold Line area around 2030. We believe the project will create value for the company, while at the same time contributing to improved European self-sufficiency in critical raw materials. We are now focused on the next stages of project development and on further strengthening the technical and economic foundations for future production. As the project progresses, we will also assess the possibility of reapplying for strategic project status in future application rounds", says Kari Vyhtinen, CEO of Endomines Finland Plc.
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 operations are focused on gold production and exploration in the Karelian Gold Line in Eastern Finland. We produce gold for the jewellery and electronics industries and create value by turning natural resources into wealth, an investment that can withstand the volatility of global politics. Our vision is to develop the Karelian Gold Line into one of the most important and sustainable gold-producing regions in the world. Endomines is listed on the OMX Helsinki main list (PAMPALO). www.endomines.com.