Finnish Minerals Group to start feasibility studies on Sokli mining project
The first phase of the assessment is expected to be completed in autumn 2022.
A Preliminary Economic Assessment (PEA) is one of the initial studies of a mining project, conducted to assess the project’s economic feasibility and to increase the company’s understanding of the uncertainties and risk factors associated with the project.
The assessment work, that will next be carried out in the Sokli project, is phased into three parts and scheduled to be completed in autumn 2022. The assessment results will be reviewed and used to decide on any follow-up studies and their scheduling.
Various assessments have been carried out at Sokli since 1967. All the findings accumulated over the years will play an important role in assessing the potential of the mineral reserve.
Overall potential of Sokli will be assessed
Finnish Minerals Group aims to comprehensively assess the full potential of the Sokli area using the latest technology. The current and future needs for minerals will be a key focus area of the assessment. The deposit in Sokli contains many of the minerals included in the list of critical raw materials released by the European Commission.
“At the local level, the assessment work will involve our project personnel visiting Sokli from time to time to collect samples from the previously accumulated findings for reanalysis. To facilitate this work, we will improve the storage capacity for the samples and the facilities for studying and processing them at Sokli. In addition, environmental monitoring will be continued and intensified in the Sokli mining project’s impacted area in order to collect more information on the basic state of the environment there. Whenever possible, locals will be recruited to perform various tasks during the assessment,” says Project Manager Pasi Heino.
The principal client and supervisor of the assessment work will be Sokli Oy, a project company fully owned by Finnish Minerals Group. The actual assessment work will be carried out by two consulting companies, AFRY and Worley. AFRY has long-term experience with environmental and process matters at Sokli. Worley has comprehensive experience with phosphate in general, and with various other minerals found at Sokli and their processing. Geological expertise for the assessment work will be provided by the Geological Survey of Finland (GTK).
Pasi Heino, Project Manager, +358 50 553 5032, firstname.lastname@example.org
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