Mumbai, January 27, 2025—Deccan Gold Mines Limited (BSE: 512068) has provided an operational update on its associate company, Kalevala Gold Oy, which is developing two gold mines in Finland. Subject to satisfactory economic assessment, the company expects these projects to transition to full-scale production in 2025.
Key Developments in Kalevala Gold Oy
- Project Progress: Deccan Gold’s Finnish operations hold eight exploration and mining licenses in various stages of approval, with complete execution expected by mid-2025.
- Increased Investment: Deccan Gold’s Dubai-based subsidiary, Deccan Gold FZCO (DGFZCO), has invested €134,000 in Kalevala for license renewals and administrative costs. This investment will be converted into equity.
- Strategic Expansion: The company is actively consolidating its stake in Kalevala, strengthening its position in the European gold mining sector.
2025 Exploration & Trial Mining Program
- Syrjälä Project: This is the most advanced site, with multiple gold deposits identified. The company will conduct trial mining at the Kuikka deposit, with plans to extract 7,000 tonnes of ore containing 1,500 to 2,500 ounces of gold.
- Kelokorpi & Pahkalampi Projects: Additional drilling and exploration will expand resource estimates and validate gold mineralization.