Finnish
Minerals
Group

20/12/2018

Finnish Minerals Group implements previously agreed funding commitments related to Terrafame Ltd

Terrafame Ltd’s parent company Finnish Minerals Group has allocated EUR 20 million of equity funding to Terrafame from the investment commitment granted in February 2017. This arrangement does not require any new funding from the State of Finland.

Terrafame has also drawn USD 50 million of equity funding granted by Galena, which is part of the investment funding package provided by the owners for the battery chemicals plant.

 

Further information

Matti Hietanen, CEO, Finnish Minerals Group, Tel: +358 40 823 8806, matti.hietanen(at)mineralsgroup.fi

Finnish Minerals Group:

Finnish Minerals Group is a special-purpose company developing the Finnish battery and mining ecosystem. We operate as a long-term strategic owner of Terrafame Ltd and other battery and mining cluster holdings, manage the mining and battery investment programme, develop battery value chain initiatives, and coordinate R&D projects. Visit: www.mineralsgroup.fi

Terrafame:

Terrafame Ltd is a Finnish multi-metal company producing nickel, zinc, cobalt and copper at its mine and metals production plant located in Sotkamo, Finland. We are now planning the processing of our main product, nickel-cobalt sulphide, into nickel and cobalt sulphates suitable for electric vehicle batteries. Our aim is to conduct environmentally sustainable, safe and profitable operations. Visit: www.terrafame.com