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Finland
Pyhasalmi Mine

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 Location:
28 km W from Kiuruvesi, Finland

  Address:
Mainarintie 2, 86900, Pyhakumpu
Pyhasalmi
Finland
PL 51, 86801
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WebsiteWeb
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Personnel
  • Filings & News

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Overview

StageProduction
Mine TypeTailings
Commodities
  • Copper
  • Zinc
  • Gold
  • Silver
  • Pyrite
Mining Method
  • Truck & Shovel / Loader
Production Start...
Mine Life4 years (as of Jan 1, 2022)
Underground production of copper and zinc at Phyasalmi mine ended in August 2022, and the last copper and zinc tonnes were shipped in the fourth quarter of 2022.

Approximately 2 million tonnes of pyrite rich material is estimated to be reclaimed from B pond in the coming years for third party sales.


Owners

Source: p. 8, 71
CompanyInterestOwnership
First Quantum Minerals Ltd. 100 % Indirect
Pyhasalmi Mine Oy (operator) 100 % Direct
Pyhasalmi Mine Oy is an indirectly wholly-owned subsidiary of the First Quantum Minerals Ltd. Pyhasalmi Mine Oy’s main asset is the Pyhäsalmi copper and zinc mine.

Contractors

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Deposit Type

  • VMS
  • Tailings


Summary:

The Pyhäsalmi deposit is a copper-zinc volcanogenic massive sulphide deposit of Proterozoic age. The mineralization is hosted by altered felsic and mafic volcanic rocks. The enveloping alteration zone is at least four kilometres long and one kilometer wide at its widest point. Alteration of the felsic volcanic rocks includes sericite and cordierite dominated mineralogy. Cordierite, anthophyllite and garnet dominate in the altered mafic volcanic rocks. The metamorphic grade is upper amphibolite facies.

The upper part of the Pyhäsalmi deposit was mined between 1962 and 2001 and is now depleted. Deep drilling in 1996 led to the discovery of an extension to the deposit below the +1050 meter level. The newer deep deposit is located between the +1050 meter level (from surface) and the +1416 meter level. The inner part of the lens consists of massive pyrite with low copper and zinc values. This core is surrounded by massive chalcopyrite-pyrite and the outer rim consists of massive sphalerite pyrite. The main sulphide minerals are pyrite (65%), chalcopyrite (3%), sphalerite (4%) and pyrrhotite (3%).


Mining Methods

  • Truck & Shovel / Loader


Summary:

Underground mining of copper and zinc at Phyasalmi ended in August 2022.

Starting in 2023, pyrite-rich material will be excavated and transported from a storage pond located about a kilometer away to the concentrator for enrichment. It is estimated that the operation will continue for about four years.

Approximately 2 million tonnes of pyrite rich material is estimated to be reclaimed from B pond in the coming years for third party sales. The pond is drained and the material is piled up to dry with an excavator. The material is transported by trucks to the concentrator for enrichment.


Crushing and Grinding


Processing

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Summary:

- subscription is required.


Production:

CommodityProductUnits2023202220212020201920182017
Pyrite Concentrate kt  ......  Subscription required ^  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required646692
Copper Metal in concentrate t  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
Zinc Metal in concentrate t  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
^ Guidance / Forecast.
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Operational Metrics:

Metrics202220212020201920182017
Ore tonnes mined  ......  Subscription required  ......  Subscription required  ......  Subscription required1,036 kt1,237 kt1,315 kt
Tonnes milled  ......  Subscription required  ......  Subscription required  ......  Subscription required1,066 kt1,248 kt1,260 kt
Subscription required - Subscription is required.

Reserves at December 31, 2021:
The mineral reserve estimate is based on a copper price of $3.75/lb and $1.10/lb for zinc.

CategoryTonnage CommodityGrade
Measured & Indicated 3,564 Mt Copper 0.48 %
Measured & Indicated 3,564 Mt Zinc 0.3 %
Measured & Indicated 3,564 Mt Gold 0.4 g/t
Measured & Indicated 3,564 Mt Silver 10 g/t
Measured & Indicated 3,564 Mt Sulphur 40.58 %

Commodity Production Costs:

CommodityUnits202220212020201920182017
All-in sustaining costs (AISC) Copper USD  ......  Subscription required†  ......  Subscription required†  ......  Subscription required†  ......  Subscription required† -0.46 / lb†   -0.26 / lb†  
C1 cash costs Copper USD  ......  Subscription required†  ......  Subscription required†  ......  Subscription required†  ......  Subscription required† -0.46 / lb†   -0.26 / lb†  
C3 fully allocated costs Copper USD  ......  Subscription required†  ......  Subscription required†  ......  Subscription required†  ......  Subscription required† 1.7 / lb†   2.06 / lb†  
† Net of By-Product.
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Financials:

Units2022202120202019201820172016
Capital expenditures M USD  ......  Subscription required 0   0   1  
Revenue M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 144   143   123  
Gross profit M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 40   24   9  
Operating Income M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required 47   14   12  
EBITDA M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 94   89   69  
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Water Supply
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Heavy Mobile Equipment:

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required May 30, 2023
....................... Subscription required ....................... Subscription required Subscription required May 30, 2023
....................... Subscription required ....................... Subscription required Subscription required May 30, 2023
....................... Subscription required ....................... Subscription required Subscription required May 30, 2023
Subscription required - Subscription is required.

Staff:

Total WorkforceYear
Subscription required 2017
Subscription required 2016
Subscription required 2015

Corporate Filings & Presentations:

DocumentYear
Annual Information Form 2022
Annual Report 2022
Management Discussion & Analysis 2022
Other 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
Financial Review 2018
Press Release 2018
Annual Report 2017
Annual Report 2016
Annual Report 2015
Year-end Mineral Reserves 2015
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