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Finnish Minerals Group continued to work on major projects in 2023

Our Annual Report for 2023 is now available on our website.


28. March 2024

The significance of the mining and battery industry for the development of European industry has increased both from a climate perspective and due to the changing global situation. E-mobility increases the demand for critical raw materials, and building European production capacity is essential to secure self-sufficiency. During 2023, Finnish Minerals Group advanced mining and battery industry investment projects across Finland.

For the group companies of Finnish Minerals Group, net sales totalled EUR 561.1, profit/loss for the financial period was EUR -10.6 million and total assets amounted to EUR 1.4 billion. In addition to the parent company Finnish Minerals Group, the Group companies comprise multi-metal company Terrafame Oy, mining project company Sokli Oy and the battery value chain project company Finnish Battery Chemicals. The parent company’s profit/loss for the financial period was EUR -3.5 million, and its total assets amounted to EUR 707.5 million. 

At the Annual General Meeting of Finnish Minerals Group on March 28, 2024, Jan Lång was elected as the new Chair of the Board and Olavi Huhtala as the Vice Chair. Ilpo Korhonen and Jukka Ohtola will continue as board members. Elected as new board members were Riku Kytömäki and Taru Uotila, effective immediately, and Ilona Lundström as of June 1, 2024.

The other matters discussed at the Annual General Meeting include corporate responsibility, the financial statements, and the company remuneration policy and executive pay.

Further information:

Read and download our Annual Report 2023

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

Katri Kauppila, VP, Communications, Finnish Minerals Group
firstname.lastname(at), +358 40 569 9200


The mission of Finnish Minerals Group is to responsibly maximise the value of Finnish minerals. We manage the State’s mining industry holdings 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.