STOCKHOLM, Sweden, Dec.30, 2016 /PRNewswire/ --Sotkamo Silver is delighted to announce that the agreement with ABB Oy concerning sales of technology, has been extended until June 30th 2017. The agreement covers engineering, design, delivery and supply of electrification, automation and instrumentation. The estimated value of the deliveries are about 5 million euro. The value of the supply financing is dependent on the value of the delivery.
"ABB's wide mining-industry experience, project-competence and comprehensive technologies will help the Silver Mine to operate at its most productive and efficient way from the very first beginning," says Executive Vice President Petri Vuolukka from ABB.
"The extension of the agreement-period is important for Sotkamo Silver. We have been very pleased with ABB's know-how, prices, deliveries and works that ABB has brought to us during these development years" summarizes Dr. Timo Lindborg, CEO of Sotkamo Silver AB
Stockholm, December 30th 2016
Timo Lindborg, CEO
Sotkamo Silver AB discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act.
The official Stock Exchange Releases are given in Swedish and there may be differences in the translated versions
About Sotkamo Silver AB:
Sotkamo Silver AB´s business concept is to exploit mineral deposits in the Nordic countries with positive social and environmental benefits. Sotkamo Silver owns mineral deposits, which contain silver and gold in Finland as well as zinc and gold in Norway. The Company's main development project is the Silver Mine project in the municipality of Sotkamo.
Sotkamo Silver applies SveMin's & FinnMin's respective rules of reporting for public mining & exploration companies. Sotkamo Silver has chosen to report mineral resources and ore reserves according to the internationally accepted JORC or NI 43-101 code. The company applies International Financial Reporting Standards (IFRS) as approved by the European Union.
The ticker symbol is SOSI in NGM Equity in Stockholm and SOSI1 in NASDAQ OMX Helsinki.
ISIN-code for Sotkamo Silver shares is SE0001057910.
ISIN- code for share warrants series 2016/2017 are SE0008373880
Legal Entity Identifier (LEI): 213800R2TQW1OZGYDX93
The Company's press releases and financial reports are distributed via Cision Sverige and are available on www.silver.fi.
For further information please contact Timo Lindborg, CEO on +46-8-304920.
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SOURCE Sotkamo Silver