First letters of intent for battery material plant sites signed

FINNISH BATTERY CHEMICALS Oy, a project company of Finnish Minerals Group, has signed letters of intent with the cities of Kotka and Hamina for industrial areas that could serve as the sites for precursor and cathode active material plants. No investment decisions have been concluded for the plants as of yet, but the preparations for the EIA procedure and assessments related to the project will continue in collaboration with the potential partners. The purpose of the letters of intent is to ensure the availability of the plots for establishing the plants in the future.

The letter of intent signed with the City of Kotka concerns the around 50-hectare area located in the Keltakallio industrial site in the city’s Ristinkallio district. Upon its realisation, the project would initially utilise around 20 hectares of this site. The ongoing EIA procedure for the battery materials production examines the possibility of establishing both a precursor and cathode active material plant on the site or, alternatively, only a cathode active material plant.

The letter of intent signed with the City of Hamina concerns two plots in Hillonkylä district constituting an area of around 45 hectares in total. The project would initially utilise approximately 14 hectares of this area. The EIA procedure for the battery materials production examines the possibilities of establishing a precursor material plant on the site.

“Both cities have taken an active role in the process for attracting new industry to the Kymenlaakso region. Our line of communication with these cities remains open, and our efforts to secure the necessary plots and infrastructural developments have progressed at a steady pace and in very close cooperation,” notes Vesa Koivisto, SVP at Finnish Minerals Group.

In accordance with their letters of intent, the cities of Kotka and Hamina will serve as the developers of their respective areas and make the necessary updates to their zoning plans. They will also be responsible for the construction of the necessary municipal engineering services on the edges of their plots. Correspondingly, project company Finnish Battery Chemicals Oy will be responsible for the project planning.

More information:

Vesa Koivisto, SVP, Battery Operations, +358 50 453 6322, vesa.koivisto(at)mineralsgroup.fi

Terms used in the text:

Precursor cathode active material – preliminary stage of the cathode active material used in lithium-ion batteries. Abbreviated as pCAM.

Cathode active material – a powdery end-product used in cell plants to manufacture cathodes, the most valuable part of the lithium-ion battery. Abbreviated as CAM.

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