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Sokli is a unique mineral deposit

Sokli’s mineral resources in Savukoski, Finland are globally unique. They would help to strengthen Europe’s self-sufficiency in important raw materials. We are now surveying the area’s mineral resources and the profitability of mining operations comprehensively, as previous studies have been based on the production of phosphate and iron. If realised, the mine would directly and indirectly employ hundreds of people and it would also become part of the Finnish battery value chain.

Phosphate and rare earth elements

In addition to phosphate and iron, the Sokli deposit contains rare earth elements (REE), manganese, vermiculite, niobium and copper. These are needed above all for food production and for helping to curb climate change.

For example, phosphate is used for fertilizers and batteries. Rare earth elements are needed for use in the electrical, electronics and automotive industries, as well as for the production of renewable energy. Manganese is utilised as an alloy, in batteries, fertilizers, as a pigment and as a reagent.

Profitability is affected by many factors

The profitability of a mine is affected by many factors, such as the world market price of the useful mineral or the valuable substance it contains, the amount of ore in the deposit, the cost of mining, the price of energy, the location of the deposit as well as permit issues.

As a mining option, we are investigating open-pit mining for laterite ores, while for phosphorites and central fracture zone, we are investigating open-pit and underground mining, depending on the location of the ore. The study also includes logistics and infrastructure solutions.

Sustainability

Towards sustainable growth

Finnish Minerals Group makes investments on commercial grounds and on a long-term basis, seeking a return on investments. We are committed to ethical business, taking responsibility for the environment, and engaging in dialogue with our stakeholders.

Read more about sustainability.

Interested?

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