26.9 C
Supported byspot_img

Terrafame received permit to mine and refine uranium in Finland

Member of Europium Groupspot_img
Supported byspot_img

In October 2017, Terrafame submitted the permit application for the approval of uranium recovery under the Nuclear Energy Act (990/1987) to the government.

The company already received the necessary chemicals and environmental permits.

The Finnish Government has granted a permit to multi-metal producing firm Terrafame to start mining and refining uranium at an existing mine in the country.

Supported by

In a press statement, Terrafame said: “The process of getting the uranium recovery plant ready for use will take approximately one year, during which time the plant’s organisation will also be built.

“However, as the government decision is subject to appeal at the Supreme Administrative Court of Finland, Terrafame estimates it will take approximately two years until the permit has legal force.”

Terrafame is backed by commodities trader Trafigura.

It intends to make uranium at a mine that has been producing nickel for many years and was earlier known as Talvivaara.

The mine is located in the Kainuu region of Finland.

According to Reuters, Terrafame took over the mine in 2015 after environmental barriers led the mine to go bankrupt.

State-owned Finnish Minerals Group holds a 71.8% ownership of Terrafame while Trafigura’s private investment arm Galena holds 27.6% and Finland-based insurer Sampo holds the remaining 0.6%.

In June 2015, Finland’s Government was reportedly set to invest a further €112m ($126m) in the restructuring of the Talvivaara nickel mine.

Finnish producer Terrafame specialises in the production of nickel, zinc, cobalt and copper at its mine and metals producing plant in Sotkamo, Finland.

Source: mining-technology.com

Supported byElevatePR Digital

Related News

Mali signs lithium mining agreement with Ganfeng, eyes revenue boost

Earlier this week, Mali's economy minister announced a significant deal with China's Ganfeng Lithium regarding the operation of the Goulamina lithium mine. Under the...

Weardale Lithium proposes advanced extraction plant in County Durham, UK

Weardale Lithium Limited, a natural resources company based in County Durham, UK, has recently filed a planning application with Durham County Council. This application...

EU nations present critical minerals investment strategies at Raw Materials summit

Representatives from leading nations disclosed their plans for critical minerals public funds at this year's Raw Materials Summit in Brussels, aiming to attract investment...

Final legal discussions underway for EU-Serbia lithium trade partnership

Commissioner Maroš Šefčovič revealed that the final legal obstacles are being addressed before the EU-Serbia trade partnership, focused on sourcing lithium from the Jadar...
Supported by
Supported by
Supported by
error: Content is protected !!