Inside Information: Endomines and Wolfram Bergbau und Huetten AG signed non-binding Letter of Intent (LOI) regarding tungsten collaboration
Endomines Finland Oyj – Inside Information – 18.3.2026, at 18:10 EET
Inside Information: Endomines and Wolfram Bergbau und Huetten AG signed non-binding Letter of Intent (LOI) regarding tungsten collaboration
Endomines Finland Plc has signed a non-binding Letter of Intent (LOI) with Wolfram Bergbau und Huetten AG (Wolfram) to investigate possibilities to cooperate in the field of tungsten.
The purpose of the LOI is to establish a framework for collaboration between the parties in areas including, but not limited to:
- Technical cooperation in research, development, and innovation related to tungsten mining and beneficiation, with the objective of producing a concentrate suitable for Wolfram’s refinery in Austria.
- Exchange of expertise and best practices in processing, quality control, and sustainability.
- Evaluation of a potential commercial offtake agreement, balancing quality, recovery, and processing costs.
“Tungsten is one of the 14 critical minerals defined by the European Union. Endomines submitted an EU Strategic Project application for its Southern Gold Line tungsten, molybdenum and gold project in January. We are excited to work together with Wolfram to assess possibilities for long-term cooperation. Technical cooperation during the permitting and engineering phases also supports the design of production facilities capable of delivering marketable products. Tungsten supply is highly concentrated, making the material strategically important for critical industrial value chains and for Endomines,” says Kari Vyhtinen, CEO of Endomines Finland Plc.
“We welcome the opportunity to explore potential cooperation with Endomines, aligned with our shared focus on responsible and resilient tungsten supply," says David Goulbourne, President of Wolfram Bergbau und Huetten AG.
Company background
Endomines Finland Plc is a Finish mining company currently progressing the Southern Gold Line -project toward production. The Environmental Impact Assessment program has been submitted in February 2026. Current plans include the production of gold, tungsten and molybdenum, with operations expected to commence around 2030.
All mining operations in Finland are carried out by Endomines Oy, a wholly owned subsidiary of the parent company, Endomines Finland Plc. Endomines Oy has applied for EU Strategic Project status application for its Southern Gold Line tungsten, molybdenum and gold project in January 2026.
Wolfram Bergbau und Hütten AG, located in Sankt Martin im Sulmtal, Austria, is a world leading vertically integrated manufacturer of tungsten carbide and tungsten metal powders. The company operates an underground mine and a modern tungsten refinery in Austria and is part of the global Sandvik Group. Wolfram is one of Europe’s largest consumers of tungsten concentrates and has deep expertise across the entire tungsten value chain.
Further information:
Kari Vyhtinen
CEO
Endomines Finland Plc
kari.vyhtinen@endomines.com
+358 40 585 0050
Endomines Finland Plc is a Finnish forerunner in sustainable mining. Our mining operations in Pampalo, Ilomantsi region, focus on gold mining and processing, as well as exploration in the Karelian Gold Line, in Eastern Finland. We produce gold for the jewellery and electronics industries and create value by transforming natural resources into wealth, an investment that withstands the volatility of global politics. Our vision is to develop the Karelian Gold Line into one of the world’s most significant and sustainable gold-producing regions. Endomines is listed on the main list of OMX Helsinki (PAMPALO). www.endomines.com.