City of Hamina and Finnish Battery Chemicals ready to sign a preliminary agreement

The City of Hamina and Finnish Battery Chemicals, a wholly owned subsidiary of Finnish Minerals Group, have negotiated a preliminary agreement on a plot on which a pCAM plant producing precursor material can be established. Precursor material is used in the production of lithium-ion batteries.

The preliminary agreement concerns a plot of approximately 13.5 hectares close to the Hamina deep-water port. In addition, the parties seek to negotiate another preliminary agreement within next six months concerning an additional adjoining plot, which will make it possible to expand the plant at a later stage. The City of Hamina has drawn up local detailed plan amendments in accordance with the requirements of the potential new plant. These amendments came into legal force in April 2021.

The current preliminary agreement will next be approved by the City Board.

“The definitive feasibility study of the pCAM plant has progressed well in cooperation with our partner CNGR Advanced Material. In addition, in February, we submitted an EIA report on the project to the coordinating authority, which is due to present a reasoned conclusion on the matter in the early summer. Based on the information from these workflows, we’ll be in a good position to decide on whether to proceed into the investment phase,” says Vesa Koivisto, SVP, Battery Operations at Finnish Minerals Group.

In December 2020, the City of Hamina and Finnish Battery Chemicals signed a letter of intent on the same industrial site, which has also been presented in the EIA report. The entire site measures approximately 45 hectares.

More information:

Vesa Koivisto, SVP, Finnish Minerals Group, vesa.koivisto(at)mineralsgroup.fi, +358 50 453 6322

Precursor material:

Preliminary stage of the cathode active material used in lithium-ion batteries. Abbreviated as pCAM.

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First letters of intent for battery material plant sites signed