The ore reserves of Outokumpu’s Kemi mine increased by 95 percent according to new drilling results

The ore reserves are larger than previously estimated, totaling approximately 62.5 million tons instead of the previous approximately 32.1 million tons.

A mining company Outokumpu has updated the estimates of the ore resources and mineral reserves of the Kemi mine. Ore reserves have increased by 95 percent.

The increase is based on new underground drilling, which shows that the soil in the mining area is rich in chromium ore, which will extend the life of the mine.

The ore reserves are significantly larger than previously estimated, totaling approximately 62.5 million tons instead of the previous approximately 32.1 million tons. If these ore reserves were sold today entirely as ferrochrome, the corresponding turnover would be around 15 billion euros calculated at the average prices of January-September 2024, the company says.

Mineral resources refer to the amount of natural resources that have been confirmed using geological and technical data collected by diamond drilling.