Geological studies in the area have been going on since the early 80ies. Now, the mining company Gold Fields Arctic Platinum says their recent discovery might be profitable to extract. A feasibility study will be presented next year.
If mining starts, the company might use a new two phase technology making it possible to enrich the ore directly into metal at the spot without a smelting plant, YLE Lapland reports.
Investments is estimated at $1,2 billion, nearly one billion euro.
In addition to platinum, the company writes on the portal that they are looking for copper, nickel and gold in the area.
