Endomines Oy has been awarded a business development subsidy of up to EUR 1.51 million from the Economic Development Centre of Eastern Finland for its initiative titled “Endomines – Producer of Critical Minerals.” The company said the support comes from both European Union and Finnish regional development programmes as it advances plans in the critical minerals sector.
Under the funding package, approximately EUR 960,000 is allocated to development activities, while around EUR 550,000 is earmarked for investment-related initiatives over the coming years. The project is intended to strengthen Endomines’ position through work linked to strategic raw materials.
EU programme backing for critical minerals research and technology
The subsidy is financed through the European Union’s “Renewing and Competent Finland 2021–2027” regional and structural policy programme. The programme is described as a framework aimed at enhancing innovation capabilities, strengthening research activities, and accelerating adoption of advanced technologies across key industries.
The funding is tied to efforts to reduce dependence on imported critical minerals while supporting sustainable resource development within the region. For Endomines, the company said the support will help deepen understanding of mineral resources that are increasingly relevant to European supply chains and industrial policy objectives.
Tungsten and molybdenum evaluation in Finland
A central aim of the project is to assess the economic viability and operational feasibility of potential future tungsten and molybdenum mining activities in Finland. The work is expected to produce technical and scientific data related to long-term potential for extraction and production within the country.
The company highlighted tungsten’s use across manufacturing, defense technologies, mining equipment, cutting tools, and high-performance industrial applications, citing its hardness and heat resistance. It also pointed to molybdenum’s role in steel production, alloys, energy infrastructure, and industrial processes requiring enhanced strength and corrosion resistance.
Geological, environmental and metallurgical studies planned
The initiative includes geological, environmental, and metallurgical studies intended to define the resource base and development opportunities. Planned activities cover analysis of tungsten and molybdenum drill core samples and extensive till sampling programmes.
Additional work includes mineral beneficiation and processing tests, environmental characterization of mining waste materials, detailed mineralogical assessments, and process engineering alongside plant design studies. The company said these investigations are meant to provide a technical basis for future decisions while ensuring any potential operations are evaluated against modern environmental and operational standards.
Project timeline through April 2028 in Ilomantsi
The project will be carried out in Ilomantsi, Finland. Activities are scheduled to begin in June 2025 and continue through April 2028.
The Economic Development Centre of Eastern Finland stated that the project is expected to enhance Endomines’ long-term competitiveness and support future growth of its operations. The company said the work aligns with broader efforts focused on securing domestic supplies of strategic raw materials amid concerns over supply chain vulnerabilities and geopolitical risks affecting mineral markets.
Kari Vyhtinen comments on strategic minerals focus
Kari Vyhtinen, Chief Executive Officer of Endomines, described the subsidy as a major step forward in executing the company’s long-term strategy. He said critical minerals such as tungsten are becoming increasingly important for Europe’s self-sufficiency objectives.
Vyhtinen also stated that molybdenum remains a vital industrial raw material used across numerous manufacturing sectors. He said the project will strengthen Endomines’ ability to evaluate and potentially develop responsible production of these strategic minerals in Finland.
Critical raw materials priorities across Europe
The funding award was announced amid intensified European efforts to secure access to critical raw materials used for industrial competitiveness, energy infrastructure, advanced manufacturing, and emerging technologies. Projects focused on strategic minerals such as tungsten and molybdenum are described as part of Europe’s long-term economic and industrial resilience.
The company said public funding programmes supporting research, innovation, and resource assessment are intended to create foundations for future domestic production and stronger regional supply chains. For Endomines, it said the new support advances its initiative within a sector aimed at building a more secure, sustainable, technologically advanced critical minerals base.
