Finnish Minerals Group to prepare for cell production plant’s EIA procedure

Finnish Minerals Group has signed a Memorandum of Understanding (MoU) with a potential partner for a cell production plant project. Next, the battery business company Finnish Battery Chemicals Oy, wholly owned by Finnish Minerals Group, will start preparing for the environmental impact assessment (EIA) procedure for the plant.

The two implementation options to be assessed in the EIA procedure are based on 27 GWh and 40 GWh total capacity per year. In cell plant projects, the investment cost of a 10 gigawatt-hour capacity is typically around one billion euros.

"We have for some time now held discussions with our technology partner about the cell investment that would be located in Kotka. Although our partner has not yet made the final decision on the location of its next cell plant, we are strongly motivated to work to get the investment here. This is the right time to start looking at the plant's environmental impact and ensure the conditions for the implementation of the project," says Matti Hietanen, CEO of Finnish Minerals Group.

The City of Kotka has offered an area of approximately 140 hectares for the project from the Keltakallio industrial area. The location is next to the CAM plant that is already planned in the same area. Finnish Battery Chemicals aims to run the EIA procedure so that a reasoned conclusion on the EIA report would be available by summer 2024. Negotiations on the cell plant will continue with the technology partner in parallel with the EIA procedure.

“The proliferation of electric cars in Europe paves the way for a rapid growth across the battery value chain. Our goal is to meet the increasing demand with battery materials and cells produced responsibly in Finland. A cell production plant would be a natural continuation of the battery material plants we are already planning to be establish in Vaasa and those that are already in the design phase in Kymenlaakso,” says Vesa Koivisto, SVP, Battery Value Chain at Finnish Minerals Group.

The parts of the cell – cathode, anode, electrolyte and separator – are assembled in a cell production plant. Battery cells are thereafter combined to into modules and packs to create battery systems, which can be used in electric cars, energy storage solutions and electronic devices.

For more information:

Matti Hietanen, CEO, Finnish Minerals Group
firstname.lastname(at)mineralsgroup.fi, +358 40823 8806

Vesa Koivisto, SVP, Battery Value Chain, Finnish Minerals Group
firstname.lastname(at)mineralsgroup.fi, +358 50 453 6322

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. Through our work, we contribute to Europe moving towards electric transport and a more sustainable future. www.mineralsgroup.fi