The Administrative Court of Vaasa has rejected the appeals of two associations regarding the environmental permits issued by the Regional State Administrative Agency for Northern Finland to Sotkamo Silver at the end of 2020 and the beginning of 2022. In addition to rejecting the appeals, the administrative court also left unexamined the claims for various compensations and rejected the appellants' claim for reimbursement of court costs.

In the environmental permit decisions issued in 2020 and 2022, Sotkamo Silver has been granted permission to expand operations from a total mining of 0.5 million tons to 1.8 million tons per year.

In connection with the rejection of the appeals, according to the Vaasa Administrative Court, Sotkamo Silver must comply with the mining volume of the environmental permit decision issued by the Regional State Administrative Agency for Northern Finland in April 2013, i.e. 500,000 tons per year, until the company has received a decision on the pending mine waste management and closure plan. Until the end of 2023, the amount of mining and flotation may not exceed 42,000 tons per month on average.

Sotkamo Silver's total mining volume can be expanded to 1.8 million tons, when the company has received a decision from the Regional State Administrative Agency for Northern Finland on the pending mine waste management and closure plan. Sotkamo Silver has submitted the plans in question to the Regional State Administration Office at the beginning of 2022 and expects to receive decisions on them in early 2024.

According to Sotkamo Silver's management, the administrative court's decision will not have significant effects on silver production volumes this year or in 2024. Sotkamo Silver's medium-term goal is to produce more than 1.5 million ounces of silver per year.

MORE INFORMATION:

Mikko Jalasto,
CEO, Sotkamo Silver
mikko.jalasto@silver.fi
+358 50 4821689

Tommi Talasterä,
CFO, Sotkamo Silver
tommi.talastera@silver.fi
+358 40 712 6970