HPP advised Terrafame Group Ltd. and Terrafame Ltd. in a transaction, in which Terrafame Group, Terrafame, Trafigura Group and its investment arm Galena Asset Management agreed on a funding arrangement and long term commercial collaboration. Terrafame Group and Sampo plc acted as co-investors in the transaction. The private funding arrangement secures the completion of Terrafame’s ramp-up as planned. The funding arrangement totals EUR 250 million.
Terrafame Group is a special-purpose company wholly owned by the State of Finland. It is responsible for managing the state ownership and exercising the owner’s power in Terrafame. Terrafame is a Finnish multi-metal company producing primarily nickel and zinc by bioheapleaching at its mine and metal factory located in Sotkamo. The aim is environmentally sustainable, safe and economically viable mining operations.