Terrafame, a Finnish mining and chemicals company based in Sotkamo, has announced plans to start recovering natural uranium by the summer of 2024, an operation which it says will be the only one of its kind in Europe.
The company notes that the move will play a role in helping to build Europe’s energy self-sufficiency.
"If you look at it from the point of view of energy production, it [uranium recovery] is important for Finland and Europe and so it is important for us. It will create new jobs and a little more turnover," says CEO Joni Lukkaroinen.
The production process will allow for low-concentrations of natural uranium found in locally-mined ore to be used as a by-product. Terrafame has a ready-built uranium recovery plant and is now preparing it for operational use. In total, the launch will require an investment of approximately 20 million euros.
After the start-up phase, the recovery plant is projected to operate at full capacity by 2026, producing approximately 200 tons per year, and employing about 40 people.
Terrafame mines nickel, zinc, cobalt and copper in Sotkamo, located in the Kainuu region of eastern Finland. Its production line for chemicals used in electric car batteries is one of the world’s largest.
The uranium recovered by Terrafame will be transported abroad for further processing, after which it will be used in nuclear energy production.
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