Finnish
Minerals
Group

01/03/2019

Electrification of transportation opens up new opportunities for Finland

Finland’s economic success requires that we are able to develop solutions to global challenges that are both sustainable and commercially viable. We are able to advance the electrification of transportation by developing the battery production value chain.

Climate change has raised rightful concern for the future of the planet. The increase of global average temperature will undeniably have a large impact, but at the same time, we are fortunate to have practical tools to curb this change.

 

Transportation running on fossil fuels is a major contributor to greenhouse gas emissions, while electrification of transportation is an important way of fighting against climate change. This is where Finland and Finnish know-how have a lot to offer. For us it also opens up new opportunities for success.  

 

Minerals are now needed for electric car batteries

 

Global demand for electric cars and their batteries has grown rapidly, and the forecasts seem promising. At the moment, most of the batteries for electric cars are manufactured in Asia, but also the EU and the European industry are interested in developing the skills, technology and production capacity needed for battery production.

 

Finland has a special role in this change, as it is the only EU country that is able to produce all the most important battery metals – nickel, cobalt and lithium. This offers an excellent opportunity for developing the Finnish mining industry and new ways of processing raw materials.

 

Building the battery value chain requires competence and capital

 

Finland has extensive knowledge and experience both in mining operations and mining technology as well as in the processing of raw materials. By harnessing these competences for building the battery value chain, we will be able to increase the value generated by the minerals mined in Finland.

 

The many intermediate steps in the battery production for electric cars, as well as the reuse and recycling of battery components and materials, offer new business opportunities for companies already operating in Finland or companies interested in investing here. The Finnish government is involved in developing promising projects through Finnish Minerals Group.

 

More jobs and economic value to Finland

 

According to a survey conducted by the Finnish Mining Association, 10 new mining industry jobs will create 15 other jobs elsewhere in the Finnish economy. Processing battery minerals based on export can produce even more economic benefits.

 

In addition to jobs and livelihood, forward-looking mining and processing companies update the skills and knowledge of their employees. This increases the knowledge capital in Finland and helps to navigate through future challenges. The recent positive news from Valmet Automotive Ltd and Keliber Ltd are a tangible example of the development of Finnish battery industry.

 

Vigorous actions to curb climate change

 

Taking care of the environment and economic success are both a part of responsible commercial operations. Finland’s economic success is also increasingly based on our capability to produce export products and services that address global challenges.

 

While the battery industry value chain is being developed in many ways, equally important would be to systematically advance the demand for electric cars in Finland. This requires efforts from the next Finnish Government to increase the battery charging infrastructure, and possibly also changes to vehicle taxation to make electric cars more tempting to consumers.

 

By driving domestic mining and battery industry firmly forward, we are reducing greenhouse gas emissions from transport and curbing global climate change. This is not only a huge commercial opportunity but also a mission that gives our work a greater meaning and will surely motivate everyone working in the mining and battery industry.

 

 

Janne Känkänen

 

Chairman of the Board of Directors

Finnish Minerals Group