Changes in the Board of Directors of Terrafame Ltd

The Annual General Meeting (AGM) of Terrafame Ltd was held on 25 March 2025.

The AGM confirmed the number of the Board members as six. Matti Hietanen, Julian Sanchez, Peter Schuhmacher and Jyrki Vainionpää were re-elected as Board members, while Patrick Burke and Markku Teräsvasara were elected as new Board members, the latter as of 15 May 2025.  

Markku Teräsvasara was elected as Chair of the Board as of 15 May 2025 and Matti Hietanen as Vice Chair, with the latter acting as Chair of the Board until 14 May 2025.

Markku Teräsvasara (born in 1965) has acted as Metso Corporation’s President, Minerals, and Deputy CEO in 2021–2024, Metso Outotec Corporation’s President, Services, and Deputy CEO in 2020–2021, and Outotec Oyj’s President and CEO in 2016–2020, and he has worked for Atlas Copco in various leadership positions in 2004–2016. Teräsvasara holds a Bachelor of Science degree in civil engineering and is a Finnish citizen. He is independent of the company and its significant shareholders.

Patrick Burke (born in 1987) has acted as Trafigura’s Global Head of Investments and M&A since 2024 and M&A Manager in 2013–2024. Prior to that, he worked as an analyst for Rothschild in 2011–2013 and as a wealth management consultant at Lloyds Banking Group in 2009–2011. Burke holds an I, BA (Hons) degree, and he is a UK and Irish citizen. Burke is independent of the company but not independent of its significant shareholders.

The outgoing Chair of Terrafame Ltd’s Board, Industrial Counsellor Lauri Ratia had announced that he is no longer available for election as Chair of the Board. Ratia has acted as Chair of the Board since August 2015, when Terrafame started its operations.

“I have been at the helm of Terrafame as Chair of the Board for nearly a decade. During that time, Terrafame has developed from a intermediates manufacturer to a globally significant producer of battery chemicals. The company has excellent opportunities for successful business in the global battery chemicals market, especially thanks to the low carbon footprint and good traceability of its products,” says Ratia.

“I warmly thank Lauri for all the work he has done for Terrafame’s development. Lauri’s role in the ramp-up of operations and the company’s development has been extremely important. His strong vision and industrial experience have played a major role as Terrafame has developed into the global battery chemicals operator it is today,” states Jan Lång, Chair of the Board of Directors of Finnish Minerals Group, the parent company of Terrafame.

“I also want to give huge thanks to the outgoing Board members Jesus Fernandez and Riitta Mynttinen for the diverse expertise they have shown and the work they have done for Terrafame. Additionally, I would like to welcome the new Board members Markku Teräsvasara and Patrick Burke,” Lång continues.

For further information, please contact:

Jan Lång, Chair of the Board of Directors, Finnish Minerals Group, tel. +358 40 508 7223

Terrafame enhances low-carbon mobility by delivering responsibly produced battery chemicals to the global battery industry. One of the world’s largest production lines for chemicals used in electric vehicle batteries is located on Terrafame’s industrial site. The plant is capable of producing nickel sulphate for around 1 million EVs per year. The carbon footprint of the nickel sulphate produced by Terrafame is among the smallest in the industry.

Terrafame’s integrated, unique and energy-efficient production process from the mine to battery chemicals is located on a single industrial site. It provides customers with a transparent, traceable and truly European battery chemical supply chain.

Terrafame Ltd was founded in 2015. Its net sales in 2024 were EUR 544.5 million. Around 2,000 people work on its industrial site, approximately 1,200 of whom are employees of partner companies.