The work, set for completion between 2018 and 2021, includes a 1,044m-deep shaft and an increase of the mine’s processing plant capacity from 1.6 million tonnes per year to 2 million tonnes per year.

Agnico is targeting a gold production increase of 50,000oz to 70,000oz annually, beginning in 2021 once the phased four-year project has wrapped.

Company managing director Jani Lösönen said the shaft work will allow it to utilise deeper areas of the deposit in an economically sensible way. It will also improve energy efficiency and decrease emissions.

“The efficiency advantage of the shaft combined with the raised production rate will improve the competitiveness of the Kittilä mine,” he added. “We selected Pöyry as our strategic partner to the largest ever expansion project in Kittilä mine based on our successful long-term relationship in various demanding projects at the mine.”

Kalle Rasinmäki, president of Pöyry's industry business in Finland, said the new assignment strengthens its presence as an engineering, procurement and construction management (EPCM) provider in the mining and metals space.

“During the investment implementation we, together with Agnico Eagle Finland, will pay extra attention to health and safety, environmental, employees and other social responsibility related aspects,” Rasinmäki said.