City of Kotka and Finnish Battery Chemicals get ready to sign a preliminary agreement
The preliminary agreement concerns a plot that is suitable for the initial phase construction of a CAM plant in the Keltakallio industrial site in Kotka.
The City of Kotka and Finnish Battery Chemicals Oy, a fully owned subsidiary by Finnish Minerals Group, have prepared a preliminary agreement on an industrial plot intended for building a CAM plant that produces cathode active materials for lithium-ion batteries. The parties will sign the preliminary agreement in early June, as soon as the city council has approved it.
The new local plan made by the City of Kotka for the Keltakallio industrial area became legally binding in the winter of 2021. The preliminary agreement to be signed concerns an area of 27.8 hectares situated in Keltakallio. The site can be expanded by 46 hectares later, if necessary.
“The construction of the CAM plant in Kotka has been included in Finnish Battery Chemical’s EIA procedure concerning battery materials production. We are currently waiting for the authority to issue its reasoned conclusion. Furthermore, we have started to assess the feasibility of the project with our potential partner. The preliminary agreement has been prepared to ensure the availability of the plot for building the CAM plant, if and when the project proceeds to the investment phase,” says Vesa Koivisto, SVP of Battery Operations at Finnish Minerals Group.
Finnish Battery Chemicals signed Letters of Intent on potential sites for battery materials production with the City of Kotka and the City of Hamina in December 2020. The plan has been from the start to build a CAM plant in Kotka. In addition, Finnish Minerals Group and CNGR Advanced Material are currently preparing a feasibility study on a pCAM plant at an industrial site in Hillonkylä, Hamina.
Vesa Koivisto, SVP, Battery Value Chain, +358 50 4536 322, vesa.koivisto(at)mineralsgroup.fi
Terms used in the text:
Precursor material – preliminary stage of the cathode active material used in lithium-ion batteries. Also referred to as precursor cathode active material, or pCAM.
Cathode active material – a powdery end product used to manufacture cathodes, the most valuable part of the battery cell, in cell plants. Abbreviated as CAM.
The mission of Finnish Minerals Group is to responsibly maximise the value of Finnish minerals. We manage the State’s mining industry shareholdings and strive to develop the Finnish value chain of lithium-ion batteries. In addition, we are engaged in long-term technology development of the mining and battery industry. Through our work, we contribute to Europe moving towards electric transport and a more sustainable future. www.mineralsgroup.fi