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Finnish Minerals Group and Anglo American to explore joint opportunities to further support Finland’s battery strategy

Finnish Minerals Group and Anglo American, one of the largest mining companies globally, have signed a memorandum of understanding (“MoU”) to work together to explore opportunities to further support Finland’s battery strategy.


12. February 2024

Finnish Minerals Group and Anglo American jointly explore the potential of the Finnish mining industry and strengthen the companies' capabilities to build a battery value chain and the required responsible mining operations in Finland. The collaboration enables to combine international experience and resources with Finnish know-how and understanding of local conditions.

Domestic mining is an opportunity for Finland to provide a stable, secure, resource efficient source of the metals and minerals needed for the world to decarbonise. As one of the few countries in the world investing across the entire battery value chain, from mineral extraction to recycling, Finland is well positioned to respond to the increase in demand for responsibly sourced critical raw materials, as countries prioritise resilience and sustainable access to these minerals with increased urgency and focus.

Jani Kiuru, SVP Raw Materials at Finnish Minerals Group, says: ”Exploring joint opportunities with Anglo American is a natural choice for us as they already know the Finnish operational environment. In addition, the company has a long history in mining and is a forerunner in sustainability. We believe this collaboration reinforces both parties by combining local and global know-how in sustainability and technological development, thus maximising the value of Finnish minerals responsibly. We see there is a mutual understanding on the vast possibilities and importance of Finnish minerals for the green transition.”

Alison Atkinson, Projects & Development Director at Anglo American, says: “Finland is a highly attractive investment destination and has a strong heritage in both mining and innovation. We look forward to working with Finnish Minerals Group, whose mission is to responsibly maximise the value of Finnish minerals, to explore the wealth of opportunities that our agreement could offer. This agreement further strengthens our commitment to Finland as well as to our Sakatti project, a true polymetallic orebody very much aligned to Finland’s and the EU’s critical minerals priorities. Sakatti is designed as the next generation of FutureSmart Mining™, building on what we have learned in terms of minimal surface footprint and using technology and innovation to deliver ever better environmental and social outcomes, whilst producing essential raw materials needed to transition to a greener, low carbon energy future.”

Finnish Minerals Group is a holding and development company active in Finnish mining industry and in several battery value chain projects. The Sokli project, fully owned by Finnish Minerals Group, develops the unique Sokli mineral deposit located in the municipality of Savukoski in Lapland. In the future, the mine could produce phosphate and rare earth elements for the growing needs of Europe. Finnish Minerals Group’s subsidiary Terrafame produces e.g., nickel and cobalt sulphates. Finnish Minerals Group has a 20% stake in Keliber, a mining and battery chemicals company that aims to start the ramp-up of battery-grade lithium hydroxide production in 2025. Additionally, Finnish Minerals Group is advancing several battery value chain investment projects together with industrial partners in Kymenlaakso and Vaasa.

Anglo American is one of the largest mining companies globally. It has approximately 105,000 employees and its headquarters are in London. AA Sakatti Mining Oy is Anglo American's Finnish subsidiary operating in Sodankylä. Sakatti is a rich multi-metal deposit with excellent exploration potential for metals of the future. In addition to important base metals such as copper, nickel and cobalt, the deposit also contains platinum, palladium, gold, and silver.

Anglo American press release:
Anglo American and Finnish Minerals Group to explore battery value chain opportunities

More information for the media:

Jani Kiuru, SVP, Raw Materials, Finnish Minerals Group,
firstname.surname(at), +358 40 823 8471

Matti Hietanen, CEO, Finnish Minerals Group,
firstname.surname(at), +358 40 823 8806

Finnish Minerals Group
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. Through our work, we contribute to Europe moving towards electric transport and a more sustainable future.

Anglo American
Anglo American is a leading global mining company and our products are the essential ingredients in almost every aspect of modern life. Our portfolio of world-class competitive operations, with a broad range of future development options, provides many of the future-enabling metals and minerals for a cleaner, greener, more sustainable world and that meet the fast growing every day demands of billions of consumers. With our people at the heart of our business, we use innovative practices and the latest technologies to discover new resources and to mine, process, move and market our products to our customers – safely and sustainably.

As a responsible producer of diamonds (through De Beers), copper, platinum group metals, premium quality iron ore and steelmaking coal, and nickel – with crop nutrients in development – we are committed to being carbon neutral across our operations by 2040. More broadly, our Sustainable Mining Plan commits us to a series of stretching goals to ensure we work towards a healthy environment, creating thriving communities and building trust as a corporate leader. We work together with our business partners and diverse stakeholders to unlock enduring value from precious natural resources for the benefit of the communities and countries in which we operate, for society as a whole, and for our shareholders. Anglo American is re-imagining mining to improve people’s lives.


12. February 2024