Anglo-American and Finnish Minerals Group forge future of battery industry

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Global mining titan Anglo-American and the Finnish state-owned Finnish Minerals Group have signed a memorandum of understanding to explore avenues to bolster Finland's battery industry strategy.

Tasked with advancing the Finnish mining and battery sectors, Finnish Minerals is a strategic partner for Anglo-American in Finland. The company's critical assets encompass subsidiary Terrafame, producing nickel and cobalt sulfates, the phosphate and rare earth project Sokli, and a 20 per cent stake in Keliber's battery-grade lithium project, which is set to commence production by 2025.

Developing battery value chain

Furthermore, Finnish Minerals are propelling several new investments downstream in the battery value chain.

Alison Atkinson, Director of Projects and Development at Anglo American, welcomes the partnership with Finnish Minerals, aiming to harness Finnish minerals responsibly and seize the opportunities presented by their agreement. This aligns with the Sakatti mining project, resonating with Finland's and the European Union's focus on critical minerals, and is sculpted to be the next generation of FutureSmart Mining.

Finland is regarded as a robust and secure source of the metals and minerals essential for global decarbonization. With an increasing number of countries prioritizing access to sustainable, critical raw materials, Finland's rich natural resources and investments spanning the entire battery value chain, from extraction to recycling, are well-positioned.

Leveraging the green transition

Jani Kiuru, Senior VP of Raw Materials at Finnish Minerals, notes the collaboration with Anglo-American as a natural step, given their familiarity with the Finnish operational environment and their sustainability leadership. The partnership marries local and international expertise in sustainability and technological innovation, thereby responsibly maximizing the value of Finnish minerals and leveraging the country's role in the green transition.

Source: Finnish Mineral Group