GOVERNMENT PROPOSES TO CAPITALISE FINNISH MINERALS GROUP

The Finnish Government has announced its preparedness to capitalise the State-owned company Finnish Minerals Group. The strategy of Finnish Minerals Group involves being an active owner and technological developer of Finnish mining companies, and increasing the degree of processing of Finnish minerals by strengthening the lithium-ion battery value chain.

A supplementary budget to be submitted to the Parliament in June proposes to Finnish Minerals Group a funding package of EUR 450 million, EUR 300 million of which is based on the mandate procedure. The mandate would give the company a possibility to enter into contracts and give commitments, the costs of which would be covered in subsequent government budgets.

According to CEO Matti Hietanen, the planned additional funding would enable the company to invest in developing the Finnish battery value chain and mining industry as well as promoting circular economy projects related to them. Finnish Minerals Group’s project company, Finnish Battery Chemicals, is currently focusing on the environmental impact assessment (EIA) procedure on precursor and cathode active material plants, which are part of the battery value chain.

Se link: https://www.mineralsgroup.fi/news-blog/news/government-proposes-to-capitalise-finnish-minerals-group.html