Terrafame Group Ltd. and Terrafame Ltd. (“Terrafame”) have on November 9, 2017 agreed with Galena Asset Management, Trafigura Group and Sampo plc on a funding package to support Terrafame’s future investments and business initiatives.
The parties have previously agreed on a EUR 250 million funding package to finalize the ramp-up of Terrafame. The new funding package totaling USD 200 million will enable Terrafame to move from established industrial operations to investing in new business opportunities associated with the electric vehicle battery segment.
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.