Vulcan to proceed with mine in Finland

Junior miner Vulcan Resources Ltd has approved the initial development of its 800,000 tonnes per annum Kylylahti copper-cobalt-nickel mine and concentrator in eastern Finland. The Perth-headquartered company's definitive feasibility study (DFS) has confirmed the economic and technical viability of the $US170 million ($A184.5 million) project, which is estimated to have a life of mine pre-tax cash flow of $US618 million ($A670.84 million). Chairman Barry Eldridge said he was delighted with the outcome of the DFS, given the global escalation in costs.