Mining company Terrafame has submitted an application to the European Commission (EC) seeking a strategic project status for the Kolmisoppi project under the European Union’s Critical Raw Materials Act (CRMA), said the company in a press release on Wednesday.
The CRMA came into effect in May 2024 and aims to sustainably ensure the availability of raw materials that are critical and strategic in terms of Europe’s economy and clean transition.
The CRMA covers more than 30 raw materials, defining the battery grade nickel produced by Terrafame as well as cobalt and copper as strategic raw materials.
Among other things, the status of a strategic project ensures that permitting processes proceed according to the deadlines set in the CRMA, decreasing the scheduling risk related to permitting.
“As a forerunner, Terrafame contributes to building a sustainable and climate-friendly battery value chain in Europe. Exploiting the Kolmisoppi ore deposit as planned enables the production of low-carbon foot battery chemicals for the European markets well into the future,” said Seppo Voutilainen, Chief Executive Officer of Terrafame.
Kolmisoppi is Terrafame’s yet unexploited ore deposit in Sotkamo, Finland.
The Kuusilampi ore deposit, which is currently being mined, and the Kolmisoppi ore deposit together form the largest nickel ore reserves in Europe. Besides nickel, zinc, cobalt, copper and natural uranium can be recovered from the ore. The recovered nickel and cobalt are processed at the company’s battery chemicals plant into battery chemicals used in electric vehicle batteries.
In 2023, Terrafame applied for an environmental permit to exploit the ore deposit in the Kolmisoppi land area to the Regional State Administrative Agency for Northern Finland.
The company aims to start mining the Kolmisoppi land area in 2028.
Later, the company will also apply for a permit to exploit the ore deposit in the Kolmisoppi water area in accordance with the Environmental Protection Act and the Water Act.
Source: www.dailyfinland.fi