Endomines acquires Power Mining Oy’s Pampalo mining operations

With the transfer of operations, the majority of the employees of Power Mining Oy working at the Pampalo mine will transition to Endomines’ employment on the transaction’s completion date, 1 September 2025. The transaction includes the machinery and equipment necessary for underground mining, valued at €1.95 million, as well as an inventory valued at approximately €0.60 million. The final value of the inventory will be determined on the completion date, and any change in the inventory will directly affect the purchase price. The purchase price will be paid in three approximately equal instalments: the first on the completion date, the second by 31 March 2026, and the third by 30 September 2026. The company estimates that the acquisition will reduce gold production costs by approximately €90 – 120/oz from 2026 onwards without additional investments.

Power Mining Oy provides rock construction services for mining and infrastructure projects in Finland and Sweden, employing around 50 mining professionals. The company has been a mining construction partner at Endomines’ Pampalo underground mine since 2021. The acquired operations employ about 30 people, all of whom work at the Pampalo mine.

Kari Vyhtinen, CEO of Endomines Finland Oyj, comments:

“This business acquisition supports our strategy, where Pampalo’s production is an essential part of our operations and growth. By integrating Power Mining’s Pampalo operations into Endomines, we can develop the mine’s operations, safety, and sustainability in a new way, while achieving significant cost savings. Additionally, a broader production chain creates a strong foundation for our growth.

“The solid expertise, professionalism, and experience of Power Mining’s personnel are valuable resources that support Endomines’ development during the growth phase. In addition to the transitioning personnel, we will immediately initiate new recruitments to support growth.”

Juha-Matti Mantere, CEO of Power Mining Oy, said:

“This business acquisition completes the long-term cooperation between Power Mining and Endomines, which has been a key part of both companies’ success. I want to thank Endomines for the cooperation and wish continued success in the future.”

Read the article online at: https://www.globalminingreview.com/finance-business/08072025/endomines-acquires-power-mining-oys-pampalo-mining-operations/