JM announces intention to exit battery materials operations
Finnish Minerals Group continues to work on its other plant projects in Kymenlaakso and Vaasa.
In April 2021, Finnish Minerals Group and Johnson Matthey announced their strategic partnership. The aim of the partnership was to deploy new water treatment solutions to support the production of cathode material at Johnson Matthey’s plant that was planned to be built in Vaasa, Finland.
According to an announcement made today, Johnson Matthey intends to pursue a sale of its battery materials business with its ultimate attention to exit. Thus, the company has paused its cathode material plant project in Vaasa whilst it carries out this process. At present, it is unknown whether another operator will take over Johnson Matthey’s battery materials initiative in Vaasa.
Finnish Minerals Group will continue to develop the battery value chain in its other ongoing projects in Kymenlaakso and Vaasa.
Further information on the reasons for the decision should be requested from Johnson Matthey.
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 lithiumion 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.