Finnish Minerals Group takes part in financing of its subsidiary Terrafame Ltd’s battery chemicals plant – a significant investment for European battery manufacturing value chain

Press release 25.10.2018Terrafame Ltd has announced on 25 October 2018 the decision to construct a battery chemicals plant in Terrafame’s industrial site in Sotkamo, Finland. Terrafame’s goal is to have the plant completed at the end of 2020 and commercial production to commence at the start of 2021. The intention of the investment is the further processing of Terrafame’s current main product nickel-cobalt sulphide into nickel sulphate and cobalt sulphate, used in the manufacturing of lithium-ion batteries. The annual production capacity of the battery chemicals plant is 170,000 tonnes