Description of the company

Endomines is a Finnish mining and exploration company primarily focused on gold.
We operate in North Karelia, along the Karelian Gold Line—a zone approximately 40 km long and 5 km wide located within the municipality of Ilomantsi. Our active mining operations are centered in Pampalo, which hosts an underground mine, an open pit, and a processing plant. In addition, we extract gold from the Hosko satellite mine. Our second satellite mine, Rämepuro, is currently inactive. We also hold rights to four gold deposits in the United States. Alongside mining, we conduct active exploration within the Karelia Gold Line area.

We produce gold for the jewelry and electronics industries, creating value by transforming natural resources into wealth—an investment that endures geopolitical instability. Our vision is to develop the Karelian Gold Line into one of the world’s most significant and sustainable gold production areas. As a new strategic focus, we will also begin utilizing strategic minerals, such as tungsten and molybdenum—an industrially important mineral—alongside gold production.

Endomines is listed on the OMX Helsinki Main List (PAMPALO). www.endomines.com

Link to the company's responsibility report →

Social Responsibility Report

Company in figures

  • Production volume: 517.20 kg (16,630 oz)
  • Total mining: Pampalo 903,000 tonnes (ore 27%, waste rock 73%), Hosko 72,000 tonnes (ore 32%, waste rock 68%)
  • Reported one reserves: 0.72 Mt (2.38 Au g/t)
  • Reported mineral reserves: 11.66 Mt (1.65 Au g/t)
  • Year of commencement: 1996 (exploration), 2011 (mining operations)
  • Mining area: 582 hectares
  • Number of own employees (31.12.): 84
  • The main localities of the employees: Ilomantsi 24%, Joensuu and surrounding municipalities 30%
  • Number of permanent contractors (31.12.): App. 50
  • Operating profit EBITDA: 16.3 M€

Information about prospecting

Endomines conducts active exploration along the Karelian Gold Line in Ilomantsi. In 2025, Ukkolanvaara was the main target of the company’s exploration drilling. Exploration activities were also carried out in Kuittila, Korvilansuo, Pampalo, Hosko and Kartitsa. During the year, we drilled a total of 84 drill holes with a combined length of 18 kilometres. Our exploration activities have focused on gold. However, in 2024, high concentrations of tungsten and molybdenum were also identified in the Kuittila area. Developing the potential of these minerals alongside gold has therefore become a new strategic focus area for us and forms part of the company’s continuous development.

  • Number and area of reservation areas: 7,090 hectares
  • Number and area of exploration permit areas: 11,437 hectares
  • Number and area of exploration permit application: 27,797 hectares
  • Exploration permits under appeal: -
  • Exploration drilling: 18 km

Environment

The company's environmental practices:
Yes No
Location in a nature reserve*
Environmental Management System **
Environmental impact assessment required (in accordance with the EIA Act) *
Measurements for dust
Measurements for noise
Measurements for vibration
Environmental risk assessment carried out
Deviations from environmental permits ***
Closure plan for the mine
Plan for the controlled shutdown of the mine in unexpected situations
  • ** Not certified
  • *** Exceedance of the limit value for suspended solids in discharge water (Pampalo) Exceedance of the limit value for nickel in discharge water (Hosko)
  • Environmental permit granted: kyllä
  • Year of permit: 2015
  • Link of permit: https://ylupa.avi.fi/fi-FI/asia/869364, https://ylupa.avi.fi/fi-FI/asia/902853
  • Guarantee in accordance with the Environmental Protection Act: 670,000 €
  • Financial guarantee in accordance with the mining act in the mining permit area: 154,500 €
  • Financial guarantee in accordance with the mining act in mineral exploration permit area: 41,500 €

Key Figures

  • Amount of mining waste: 966,000 t (waste rock 73%, tailings 27%)
  • Utilixation of extractive waste: Waste rock 21%, tailings 18%
  • Fuel Consumption: 11.6 GWh
  • Other energy consumption: Electricity 22.1 GWh, heating 0.56 GWh
  • CO2 emissions from the mine: 26,448 tCO2e (Scope 1: 13%, Scope 2: 34% and Scope 3: 53%)
  • Water consumption: Pampalo 0.55 Mm3
  • Discharge of water outside the mining area: 0.74 Mm3 (Pampalo, Hosko and Rämepuro)
  • Number of dams in the mining area: 2
  • Endangered species are present in the operational area: ei
  • Use of environmentally hazardous chemicals: Processing chemicals: 287 tonnes
  • Biodiversity actions: Nature surveys as part of the Environmental Impact Assessment for the Southern Gold Line.

Personnel and security

The company's personnel practices:
Yes No
Staff initiative system
Performance appraisals concerning the entire personnel
Staff training plan
Equality plan
Employee representation in company administration
Occupational health and safety management system*
Occupational safety card for everyone working in the area
Own rescue unit
  • * Not certified

Key Figures

  • Average training days: -
  • Sickness absences (excluding contractors): 3.16%
  • Accident frequency: Lost-time injury frequency rate: 10.1, total injury frequency rate: 20.9 (incl. contractors)
  • Shift systems in use: 1/5, 3/7
  • Share of women in the labour force: 16%

Impact on the use and livelihoods of nearby areas

Impact on local livelihoods:

In 2025:

  • Our purchases from companies operating in North Karelia amounted to EUR 7.4 million, of which EUR 2.2 million was from companies operating in Ilomantsi (incl. VAT).
  • At the end of the year, we had a total of 162 suppliers from North Karelia, of which 55 were based in Ilomantsi.
  • At the end of the year, we employed 73 people at Pampalo. In addition, we hired 14 summer employees.
  • At the end of 2025, 23% of the people working at Pampalo lived in Ilomantsi and 64% in North Karelia.
  • We paid approximately EUR 200,000 in mining tax to Ilomantsi.
  • We supported projects promoting local well-being and recreational use of nature with approximately EUR 23,000.

Impact on nearby recreational use:

Recreational activities in the surrounding area mainly consist of outdoor activities and fishing, and we estimate the impacts of our operations on these activities to be minor. In 2024, we conducted voluntary noise and vibration monitoring at and near the Pampalo and Hosko mines, and no guideline values were exceeded. In 2025, fisheries monitoring in accordance with the monitoring programme was carried out in connection with the Rämepuro mine. Reports on the environmental monitoring results are available on our website. In 2025, we sponsored the maintenance of a local beach as a recreational area for local residents.

Impact on landscape value:

We assess the adverse impacts of our operations on the landscape to be very minor. Due to the surrounding tree cover, the visual impacts are largely limited to the mining area. Following the closure of operations, the areas will be restored in accordance with the closure plans.

Interaction with stakeholders

Stakeholder cooperation:

The aim of our stakeholder engagement is to build trust and promote openness between Endomines and our stakeholders. We want to have a positive impact on the people and communities in the areas where we operate. Cooperation and open dialogue help us understand and take into account the needs and expectations of our stakeholders.

We maintain regular contact with our neighbours and other key stakeholders, listen carefully to their views and take them into account when planning and developing our operations.

In 2025:

  • We continued to organise local community meetings for residents living near our mining area. The meetings held in May and September provide an informal and accessible forum for sharing updates on Endomines’ activities, asking questions and raising concerns or suggestions for the development of our operations.
  • We organised an Open Day at the Pampalo mine in August. Nearly 200 people attended the event.
  • To support our stakeholder engagement, we continued to communicate regularly through our website and social media channels. In 2026, we will begin publishing Endomines Uutiset twice a year as a supplement to the local Ilomantsi newspaper, Pogostan Sanomat.
  • At the beginning of 2026, we introduced an easy-to-use feedback form on our website. We monitor and process the feedback we receive according to a defined process and use it to develop our operations.
  • At the beginning of 2026, we also decided to establish a stakeholder cooperation group. We will invite representatives from local village associations, hunting and fishing associations, the Municipality of Ilomantsi, key authorities and landowners, civil society and environmental organisations operating in the area, as well as organisations supporting regional development, business, tourism and education.

Research and cooperation projects:

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