LEMMINKÄINEN CORPORATION PRESS RELEASE 2 MARCH 2011 at 1.00 p.m.
LEMMINKÄINEN LANDS 15-MILLION-EURO EXCAVATION CONTRACT IN SWEDEN
Lemminkäinen has received an order for the excavation of underground mine tunnels and ore, worth around EUR 15 million, in the Svartliden Mine in Northern Sweden. Work begins in August 2011, and the contract is estimated to be completed in the second half of 2013.
The contract was ordered by Dragon Mining Sweden AB. The Lemminkäinen project comprises the first stage work for an underground mine, construction of some 3.5 kilometres of mine tunnels, and excavation of gold ore. The mining company began utilising the overland gold deposit in Svartliden already in 2006. The mine is located in the municipality of Storuman, 60 kilometres west of the Lycksele town.
"The contract we have now signed further strengthens our established position in the Swedish rock construction market, and guarantees continued employment for the mining sector in Northern Sweden in particular", says Kari J. Korhonen, Regional Director of Lemminkäinen’s Swedish rock segment.
Lemminkäinen is currently working on the work tunnel excavation in LKAB’s Kiruna iron ore mine in Sweden. The project was ordered last year, and its total value is around EUR 55 million.
Dragon Mining Ltd is an Australian-owned mining company that also has operations in Finland. Its subsidiary Polar Mining Oy excavates gold ore in the Orivesi and the Jokisivu, Huittinen mines. The company’s ore refinery is located in Vammala, Finland.
Regional Director Kari J. Korhonen
Lemminkäinen Infra Oy
Tel. +358 20721 53420
NASDAQ OMX Nordic Exchange Helsinki
Lemminkäinen Group operates in all areas of the construction sector. The Group’s business sectors are building construction, infrastructure construction and technical building services. Net sales in 2010 were about EUR 2.0 billion, of which international operations accounted for roughly a quarter. The Group employs about 8,300 people. Lemminkäinen Corporation’s share is quoted on NASDAQ OMX Nordic Exchange Helsinki. www.lemminkainen.fi